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    <managingEditor>tris-trb@nas.edu (Bill McLeod)</managingEditor>
    <webMaster>tris-trb@nas.edu (Bill McLeod)</webMaster>
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      <title>Finance, Congestion Pricing, Economics, and Economic Development 2007</title>
      <link>https://trid.trb.org/View/839796</link>
      <description><![CDATA[This collection of 13 papers is concerned with finance, congestion pricing, economics, and economic development.  Specific topics discussed are as follows:  financing toll highway concessions in Spain; private-sector returns in public-private highway toll concessions; financing transit-oriented development; self-financing highway pricing schemes; public-private partnerships in highways in transition economies; politics, public opinion, and project design in California road pricing; planning and operational issues of I-394 MnPASS high-occupancy toll lanes; attitudes and willingness to pay for tolled facilities; how the public perceives pricing; reaction to the managed lane concept; evaluating air travel service in Alaska; time value of goods movement for project appraisal in South Korea; and bridge construction cost allocation based on game theory.]]></description>
      <pubDate>Thu, 08 Nov 2007 11:17:59 GMT</pubDate>
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      <title>Time Value of Goods Movement for Project Appraisal in South Korea</title>
      <link>https://trid.trb.org/View/801891</link>
      <description><![CDATA[The value of time (VOT) estimated with the annual average wage of truck operators and the wage rate (WR) method is currently being applied in South Korea to evaluate the economic feasibility of new roadways. The WR method considers the wage of truck operators, but not the value of the goods being transported. Because there is an obvious difference between the wage of truck operators and the value of goods, the WR method may not properly reflect the VOT for truck travel. The main objectives of the research conducted for this paper were to estimate the VOT for truck travel, using the marginal rate of substitution (MRS) method, and to evaluate the applicability of this method in the economic feasibility study for a new roadway. The results show that the VOT for truck travel estimated using the MRS method with stated preference data is 60.5% higher than that calculated using the WR method. From the results of a recent economic feasibility study for three road types—private highway, expressway, and highway—the benefit–cost ratio calculated using the MRS method is shown to be about 41.3% greater than that obtained using the WR method. These findings suggest that the MRS method is more appropriate for estimating VOT when conducting economic feasibility studies to justify constructing new transportation infrastructure.]]></description>
      <pubDate>Fri, 23 Mar 2007 10:21:41 GMT</pubDate>
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