The logsum as an evaluation measure: Review of the literature and new results
The logsum is a measure of consumer surplus in the context of logit choice models. In spite of the very frequent use of logit models in transport, project assessment is only rarely done using logsums. Instead in project evaluation or appraisal, changes in transport costs and time (borrowing values of time from some source) are commonly used to get the traveller benefits. The paper contains a review of the theoretical and applied literature on the use of logsums as a measure of consumer surplus change in project appraisal and evaluation. It then goes on to describe a case study with the Dutch National Model System for transport in which the logsum method and the commonly used value of time method are compared for a specific project (high speed trains that would connect the four main cities in the Randstad: Amsterdam, The Hague, Rotterdam and Utrecht).
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Availability:
- Find a library where document is available. Order URL: http://worldcat.org/issn/09658564
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Supplemental Notes:
- Abstract reprinted with permission from Elsevier
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Authors:
- De Jong, Gerard
- Daly, Andrew
- Pieters, Marits
- van der Hoorn, Toon
- Publication Date: 2007-11
Language
- English
Media Info
- Media Type: Print
- Features: Figures; References; Tables;
- Pagination: pp 874-889
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Serial:
- Transportation Research Part A: Policy and Practice
- Volume: 41
- Issue Number: 9
- Publisher: Elsevier
- ISSN: 0965-8564
- Serial URL: http://www.sciencedirect.com/science/journal/09658564
Subject/Index Terms
- TRT Terms: Consumers surplus; Evaluation; Logits; Measurement; Time
- Uncontrolled Terms: Change; Discrete choice models; Logsums; Transportation costs
- Geographic Terms: Netherlands
- Old TRIS Terms: Project assessment
- Subject Areas: Economics; Highways; Planning and Forecasting; I72: Traffic and Transport Planning;
Filing Info
- Accession Number: 01056147
- Record Type: Publication
- Files: TRIS
- Created Date: Aug 30 2007 8:18AM