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The use of economic appraisal in transportation analysis

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  • Nash, CA

Abstract

This paper surveys the use of economic appraisal techniques in the field of transportation. After surveying the history of such approaches, a critical assessment is offered of the most recent contributions to the debate, centering on the 1977 Leitch Report. The limited room for manoeuvre in making local assessments is highlighted: national policy considerations are seen as frequently dominating the local choice. While most of the debate on the 'inadequacies' of cost-benefit have focussed on 'intangible' items, the author argues for a much closer look at the 'hard' data on the value of time-savings and accident costs. Some of the Leitch committee's proposals are found wanting in this respect. In the wider context, a plea is made for the use of common criteria for assessing projects throughout the entire transport sector. Only in this way can misallocation of resources be minimised.

Suggested Citation

  • Nash, CA, 1979. "The use of economic appraisal in transportation analysis," Omega, Elsevier, vol. 7(5), pages 441-450.
    • Handle: RePEc:eee:jomega:v:7:y:1979:i:5:p:441-450
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