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This report sets out several of the recent advances, and suggests the most promising approaches, to the quantification and valuation of some of the wider economic benefits that flow from transport-related development. Economic appraisal can offer decision-makers important insights into the ...
Book Synopsis ITF Roundtable Reports Quantifying the Socio-economic Benefits of Transport by : International Transport Forum
Download or read book ITF Roundtable Reports Quantifying the Socio-economic Benefits of Transport written by International Transport Forum and published by OECD Publishing. This book was released on 2017-01-25 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report sets out several of the recent advances, and suggests the most promising approaches, to the quantification and valuation of some of the wider economic benefits that flow from transport-related development. Economic appraisal can offer decision-makers important insights into the ...
This report sets out several of the recent advances, and suggests the most promising approaches, to the quantification and valuation of some of the wider economic benefits that flow from transport-related development. Economic appraisal can offer decision-makers important insights into the expected socio-economic impacts of transport projects. The sophistication of modern supply chains and the growing prominence of the services sector have increased the interest of decision-makers in economic benefits beyond those traditionally captured in transport appraisal.
Book Synopsis Quantifying the Socio-economic Benefits of Transport by : OECD (Paris).
Download or read book Quantifying the Socio-economic Benefits of Transport written by OECD (Paris). and published by Org. for Economic Cooperation & Development. This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report sets out several of the recent advances, and suggests the most promising approaches, to the quantification and valuation of some of the wider economic benefits that flow from transport-related development. Economic appraisal can offer decision-makers important insights into the expected socio-economic impacts of transport projects. The sophistication of modern supply chains and the growing prominence of the services sector have increased the interest of decision-makers in economic benefits beyond those traditionally captured in transport appraisal.
Book Synopsis Quantifying the Socio-Economic Benefits of Transport by : Daniel Veryard
Download or read book Quantifying the Socio-Economic Benefits of Transport written by Daniel Veryard and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Transport project prioritisation and selection processes require consideration of many aspects of costs, intended benefits and other impacts. Economic analysis methods can measure many of those factors, though the analysis methods must be specified in ways that meet the information needs of decision-makers. This paper examines how benefit-cost analysis, economic impact analysis and multi-criteria analysis approaches have evolved and been applied to address the specific form of governmental decision processes that exist in the U.S. and some other countries. It discusses how "ex-post" case studies and associated statistical studies of have been promoted and utilised to both inform and refine "ex-ante" evaluation methods. It concludes by discussing the advantages, limitations and trade-offs involved in the use of this approach for transport project decision-making.
Book Synopsis Estimating Wider Economic Impacts in Transport Project Prioritisation Using Ex-post Analysis by :
Download or read book Estimating Wider Economic Impacts in Transport Project Prioritisation Using Ex-post Analysis written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Transport project prioritisation and selection processes require consideration of many aspects of costs, intended benefits and other impacts. Economic analysis methods can measure many of those factors, though the analysis methods must be specified in ways that meet the information needs of decision-makers. This paper examines how benefit-cost analysis, economic impact analysis and multi-criteria analysis approaches have evolved and been applied to address the specific form of governmental decision processes that exist in the U.S. and some other countries. It discusses how "ex-post" case studies and associated statistical studies of have been promoted and utilised to both inform and refine "ex-ante" evaluation methods. It concludes by discussing the advantages, limitations and trade-offs involved in the use of this approach for transport project decision-making.
This paper analyses three main mechanisms through which transport improvements have impacts that deliver real income gain over and above user-benefits. One is economic density and productivity, a second is induced private investment and associated land-use change, and a third is employment effects. There are relatively well-established methodologies for incorporating the first and third of these in cost-benefit appraisal, and these methodologies are reviewed in the paper. For the second, the paper outlines how transport induced investments can create consumer surplus, and describes a method for quantifying this in cost-benefit appraisal. Data issues encountered in implementing these methods are discussed.
Book Synopsis Incorporating Wider Economic Impacts Within Cost-benefit Appraisal by :
Download or read book Incorporating Wider Economic Impacts Within Cost-benefit Appraisal written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses three main mechanisms through which transport improvements have impacts that deliver real income gain over and above user-benefits. One is economic density and productivity, a second is induced private investment and associated land-use change, and a third is employment effects. There are relatively well-established methodologies for incorporating the first and third of these in cost-benefit appraisal, and these methodologies are reviewed in the paper. For the second, the paper outlines how transport induced investments can create consumer surplus, and describes a method for quantifying this in cost-benefit appraisal. Data issues encountered in implementing these methods are discussed.
The economic evaluation of a project in any sector entails the measurement and comparison of cost and benefit streams expected from alternative investments. This paper presents an exposition of the social surplus method of measuring benefits. The exposition is intended to shed light on the nature of benefits to be expected from road transport projects, both with and without various types of market imperfections, and in particular, to show how these benefits relate to changes in the supply and demand of transported commodities. Thus one purpose of the paper is purely expository; to record the economic mechanics behind the social surplus method of benefit evaluation as applied to road projects. In the following chapters, the paper presents a method of measuring benefits which takes traffic responses into account, discusses the factors underlying their relative importance, relates the benefits to associated changes in the production and consumption of the transported commodity, and interprets the impact of market imperfections on benefit measurement.
Book Synopsis The Economic Benefits of Road Transport Projects by : Herman G. Tak
Download or read book The Economic Benefits of Road Transport Projects written by Herman G. Tak and published by Johns Hopkins University Press. This book was released on 1971 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic evaluation of a project in any sector entails the measurement and comparison of cost and benefit streams expected from alternative investments. This paper presents an exposition of the social surplus method of measuring benefits. The exposition is intended to shed light on the nature of benefits to be expected from road transport projects, both with and without various types of market imperfections, and in particular, to show how these benefits relate to changes in the supply and demand of transported commodities. Thus one purpose of the paper is purely expository; to record the economic mechanics behind the social surplus method of benefit evaluation as applied to road projects. In the following chapters, the paper presents a method of measuring benefits which takes traffic responses into account, discusses the factors underlying their relative importance, relates the benefits to associated changes in the production and consumption of the transported commodity, and interprets the impact of market imperfections on benefit measurement.
This book discusses the full economic benefits - and costs - of transport infrastructure and explores ways to make good estimates of the full impact of planned investments on regional and national economies. It argues for proper account to be taken of all relevant economic weaknesses -- those the project is designed to address such as local monopoly pricing, those associated with use of the infrastructure such as environmental externalities, and possible unintended consequences such as impacts on local labour markets. Care must also be taken to verify that net benefits are likely to accrue to those that the project was intended to benefit. Building on recent groundbreaking work in the United Kingdom this publication suggests ways to improve traditional cost-benefit assessments, overcoming reservations that have inhibited the use of CBA in many countries. The main report is completed with examinations of transport project assessment approaches in France, Germany, the United Kingdom and across Europe together with a discussion of an approach to determining optimal levels of investment in transport infrastructure for maximising socio-economic welfare.
Book Synopsis Assessing the Benefits of Transport by : European Conference of Ministers of Transport
Download or read book Assessing the Benefits of Transport written by European Conference of Ministers of Transport and published by Paris, France : European Conference of Ministers of Transport. This book was released on 2001 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the full economic benefits - and costs - of transport infrastructure and explores ways to make good estimates of the full impact of planned investments on regional and national economies. It argues for proper account to be taken of all relevant economic weaknesses -- those the project is designed to address such as local monopoly pricing, those associated with use of the infrastructure such as environmental externalities, and possible unintended consequences such as impacts on local labour markets. Care must also be taken to verify that net benefits are likely to accrue to those that the project was intended to benefit. Building on recent groundbreaking work in the United Kingdom this publication suggests ways to improve traditional cost-benefit assessments, overcoming reservations that have inhibited the use of CBA in many countries. The main report is completed with examinations of transport project assessment approaches in France, Germany, the United Kingdom and across Europe together with a discussion of an approach to determining optimal levels of investment in transport infrastructure for maximising socio-economic welfare.
This paper provides an overview of some alternative conceptual definitions of travel time variability, discusses their implications about behaviour, and puts them into a broader context, including deviations from the underlying assumptions regarding rational behaviour. The paper then discusses the empirical basis for assigning a value to travel time variability. This discussion leads to the conclusion that a fair amount of scepticism is appropriate regarding stated preference data and that attention should turn to the possibilities that are emerging for using large revealed preference datasets. The bottom line is that travel time variability is quantitatively important and cost-benefit analysis should account for it, using the best values we can get, in order not to imply a bias towards project that do not reduce travel time variability. Omitting the cost of travel time variability is not the neutral option.
Book Synopsis The Valuation of Travel Time Variability by :
Download or read book The Valuation of Travel Time Variability written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an overview of some alternative conceptual definitions of travel time variability, discusses their implications about behaviour, and puts them into a broader context, including deviations from the underlying assumptions regarding rational behaviour. The paper then discusses the empirical basis for assigning a value to travel time variability. This discussion leads to the conclusion that a fair amount of scepticism is appropriate regarding stated preference data and that attention should turn to the possibilities that are emerging for using large revealed preference datasets. The bottom line is that travel time variability is quantitatively important and cost-benefit analysis should account for it, using the best values we can get, in order not to imply a bias towards project that do not reduce travel time variability. Omitting the cost of travel time variability is not the neutral option.
Abstract: Despite large amounts invested in rural roads in developing countries, little is known about their benefits. This paper derives an expression for the willingness-to-pay for a reduction in transport costs from the canonical agricultural household model and uses it to estimate the benefits of a hypothetical road project. Estimation is based on novel cross-sectional data collected in a small region of Madagascar with enormous, yet plausibly exogenous, variation in transport cost. A road that essentially eliminated transport costs in the study area would boost the incomes of the remotest households-those facing transport costs of about USD 75/ton-by nearly half, mostly by raising non-farm earnings. This benefit estimate is contrasted to one based on a hedonic approach.
Book Synopsis on measuring the benefits of lower transport costs by : Hanan G. Jacoby
Download or read book on measuring the benefits of lower transport costs written by Hanan G. Jacoby and published by World Bank Publications. This book was released on 2008 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Despite large amounts invested in rural roads in developing countries, little is known about their benefits. This paper derives an expression for the willingness-to-pay for a reduction in transport costs from the canonical agricultural household model and uses it to estimate the benefits of a hypothetical road project. Estimation is based on novel cross-sectional data collected in a small region of Madagascar with enormous, yet plausibly exogenous, variation in transport cost. A road that essentially eliminated transport costs in the study area would boost the incomes of the remotest households-those facing transport costs of about USD 75/ton-by nearly half, mostly by raising non-farm earnings. This benefit estimate is contrasted to one based on a hedonic approach.
In recent years there has been an increasing move towards allowing for impacts beyond the direct user benefits and costs in the appraisal of transport investments. Much of the interest to date has been in justifying the inclusion of such wider impacts as a genuine net addition to a cost-benefit analysis rather than just double counting of direct benefits or displacement effects. The focus has been mainly on the impacts on productivity and economic growth through the impact of increasing accessibility on agglomeration. The paper reviews the arguments in favor of measuring such impacts, the progress made in implementing such impacts in appraisal, and the limitations of such an approach. The paper then proceeds to discuss approaches that analyze the way in which new transport infrastructure may lead to the restructuring and rebalancing of local and regional economies through structural change and the relocation of activities. Evidence from high-speed rail networks in Europe and the People's Republic of China (PRC) is used to examine changes in specialization, the impacts on knowledge-intensive sectors, and new firm formation.
Book Synopsis Quantifying the Economic and Social Impacts of High-speed Rail by : Chia-lin Chen
Download or read book Quantifying the Economic and Social Impacts of High-speed Rail written by Chia-lin Chen and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years there has been an increasing move towards allowing for impacts beyond the direct user benefits and costs in the appraisal of transport investments. Much of the interest to date has been in justifying the inclusion of such wider impacts as a genuine net addition to a cost-benefit analysis rather than just double counting of direct benefits or displacement effects. The focus has been mainly on the impacts on productivity and economic growth through the impact of increasing accessibility on agglomeration. The paper reviews the arguments in favor of measuring such impacts, the progress made in implementing such impacts in appraisal, and the limitations of such an approach. The paper then proceeds to discuss approaches that analyze the way in which new transport infrastructure may lead to the restructuring and rebalancing of local and regional economies through structural change and the relocation of activities. Evidence from high-speed rail networks in Europe and the People's Republic of China (PRC) is used to examine changes in specialization, the impacts on knowledge-intensive sectors, and new firm formation.
