MEASURES OF BENEFIT IN THE EVALUATION OF URBAN TRANSPORT IMPROVEMENTS

VARIOUS ALTERNATIVE MEASURES ARE DESCRIBED OF USER- BENEFITS APPLICABLE TO THE EVALUATION OF URBAN TRANSPORT SCHEMES. IT IS ASSUMED THAT BENEFIT CAN BE MEASURED IN TERMS IF REDUCTIONS IN COST, WHERE COST IS A GENERALISED FUNCTION OF FINANCIAL OUTLAY, TIME, COMFORT AND OTHER FACTORS. FOUR METHODS OF ESTIMATING USER-BENEFIT ARE DISCUSSED: THE LONDON TRANSPORTATION STUDY FORMULA, CONSUMERS SURPLUS, EQUIVALENT INCOME VARIATIONS AND CARDINAL UTILITY FUNCTIONS. IT IS SHOWN THAT UNDER CERTAIN ASSUMPTIONS THE FIRST THREE MEASURES YIELD THE SAME RESULT. THE IMPORTANCE OF THE NOTION OF CONSTANT MARGINAL UTILITY OF MONEY AND THE DIFFERENCE BETWEEN CARDINAL AND ORDINAL MEASURES OF UTILITY ARE DISCUSSED. QUANTITATIVE FORMULAE ARE CITED FOR EACH TYPE OF BENEFIT MEASURE DISCUSSED. THE PAPER CONCLUDES THAT THE APPLICATION OF WELFARE ECONOMIC THEORY TO STANDARD TRANSPORT FORECASTING MODELS RAISES MORE FUNDAMENTAL THEORETICAL PROBLEMS. /RRL/A/

  • Supplemental Notes:
    • Ces Paper NO 43, 36 PP, 6 FIG, 9 REF
  • Corporate Authors:

    Centre for Environmental Studies /UK

    ,    
  • Authors:
    • WILSON, A G
    • Kirwan, R M
  • Publication Date: 1969-8

Subject/Index Terms

Filing Info

  • Accession Number: 00241035
  • Record Type: Publication
  • Source Agency: Road Research Laboratory /UK
  • Files: TRIS
  • Created Date: Oct 26 1970 12:00AM