PITFALLS IN STANDARD ROAD COST BENEFIT THEORY

THIS ARTICLE, PART 2 OF A 2-PART PAPER, SHOWS THAT STANDARD COST-BENEFIT THEORY IS CONSISTENT WITH THE ASSUMPTION THAT BENEFITS FROM ROAD SCHEMES ARE PROPORTIONAL TO VEHICLE MILES AND THAT THE USUAL FORMULAE LEAD TO RESULTS WHICH ARE OBVIOUSLY UNTRUE. THE REAL BENEFITS OF ANY ENGINEERING PROJECT CAN BE MEASURED BY THE NET RESULTING INCREASE IN PROPERTY AND LAND VALUES. IN THIS LIGHT PEDESTRIAN PRECINCTS ARE EXAMINED, AND THE EFFECT OF THE M4 ON PROPERTY VALUES, WHICH DEMONSTRATE THAT COST-BENEFIT ANALYSIS CAN LEAD TO INCORRECT CONCLUSIONS, IS INVESTIGATED. THE TERM "ACCESSIBILITY" IS DEFINED, AND ITS RELATION TO COST-BENEFIT ANALYSIS AND TRANSPORT POLICY DECISIONS IS STUDIED. /TRRL/

  • Corporate Authors:

    Surveyor-local Gov't Technology /UK

    ,    
  • Authors:
    • Withrington, P F
  • Publication Date: 1972-12-15

Media Info

  • Features: Figures; References; Tables;
  • Pagination: p. 30-2
  • Serial:
    • Volume: 140
    • Issue Number: 4201

Subject/Index Terms

Filing Info

  • Accession Number: 00202530
  • Record Type: Publication
  • Source Agency: Transport and Road Research Laboratory (TRRL)
  • Files: TRIS
  • Created Date: Jun 19 1974 12:00AM