Authors
Edward N Robson, Kasun P Wijayaratna, Vinayak V Dixit
Publication date
2018/10/1
Source
Transportation Research Part A: Policy and Practice
Volume
116
Pages
31-53
Publisher
Pergamon
Description
In the transport planning process, decision makers require reliable and informative appraisals to facilitate comparisons and determine if a proposal is worthwhile to society. The cost–benefit analysis is the most common form of appraisal, where benefits are primarily measured from the change in consumer surplus in the transport market. However, these benefits will only reflect maximum social welfare if markets operate perfectly competitively and without any market failures. There may be significant uncaptured impacts, known as wider economic impacts, which agencies are beginning to incorporate in appraisals using ad-hoc methods. Computable general equilibrium (CGE) models are an increasingly popular method for assessing the economic impact of transport, including both direct and wider economic impacts, as they can determine the distribution of impacts among every market and agent in the economy by …
Total citations
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Scholar articles
EN Robson, KP Wijayaratna, VV Dixit - Transportation Research Part A: Policy and Practice, 2018
E Robson, V Dixit - Conference of Australian Institutes of Transport …, 2015