MONETARY VALUATION OF THE ENVIRONMENTAL IMPACTS OF TRANSPORT

Although it is recognised that the environmental impacts of transport areoften adverse, the impacts are not always considered objectively and transparently in project evaluation and transport investment decision-making.The paper argues that a useful approach to making and understanding (environmental) trade-offs in transport is through monetary valuation of environmental impacts, as it allows project impacts to be quantified in a commonunit of dollars. The principal argument is that monetary valuation is needed in order to improve overall evaluation of transport proposals. The paper examines current project evaluation procedures including the treatment of environmental impacts. Then the value of monetary valuation of environmental impacts is discussed. The paper reviews methods for monetary valuation including revealed preference and hypothetical market methods and compares the different methods. The paper concludes that increased monetary valuation of environmental impacts would be a valuable contribution to decision-making. The hypothetical market valuation methods offer great promise and deserve further research into their application to valuation of the urban environment. (a) For the covering entry of this conference, see IRRD abstract no 861490.

Language

  • English

Media Info

  • Features: References;
  • Pagination: p. 365-82

Subject/Index Terms

Filing Info

  • Accession Number: 00674961
  • Record Type: Publication
  • Source Agency: ARRB
  • ISBN: 0-7325-0660-3
  • Files: ITRD, ATRI
  • Created Date: Mar 28 1995 12:00AM