IDEAS home Printed from https://ideas.repec.org/a/eee/retrec/v47y2014icp19-26.html
   My bibliography  Save this article

Appraisal in the rail sector: General issues and British experience in dealing with them

Author

Listed:
  • Nash, Chris

Abstract

This paper first considers the role of appraisal in rail systems, and shows how this extends far beyond simply appraising investment projects to considering long run strategy, renewals, quality of service and closures. It then discusses the particular issues which make rail appraisals complex, including the long life of assets, the complexity of the range of options available, the many dimensions of quality of service, network effects, externalities, the importance of the impacts on other modes and the issue of wider economic impacts. Finally it illustrates these issues with reference to the history of the appraisal of high speed rail in Britain, where key arguments have concerned the robustness of demand forecasts over such long time periods, the valuation of business time savings, the adequacy of the appraisal of alternatives and the extent of wider economic impacts.

Suggested Citation

  • Nash, Chris, 2014. "Appraisal in the rail sector: General issues and British experience in dealing with them," Research in Transportation Economics, Elsevier, vol. 47(C), pages 19-26.
    • Handle: RePEc:eee:retrec:v:47:y:2014:i:c:p:19-26
    DOI: 10.1016/j.retrec.2014.09.015
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0739885914000560
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.retrec.2014.09.015?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Lyons, Glenn & Jain, Juliet & Holley, David, 2007. "The use of travel time by rail passengers in Great Britain," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(1), pages 107-120, January.
    2. André de Palma & Robin Lindsey & Emile Quinet & Roger Vickerman (ed.), 2011. "A Handbook of Transport Economics," Books, Edward Elgar Publishing, number 12679.
    3. Fowkes, Tony, 2007. "The design and interpretation of freight stated preference experiments seeking to elicit behavioural valuations of journey attributes," Transportation Research Part B: Methodological, Elsevier, vol. 41(9), pages 966-980, November.
    4. Chris Nash, 2011. "Competition and Regulation in Rail Transport," Chapters, in: André de Palma & Robin Lindsey & Emile Quinet & Roger Vickerman (ed.), A Handbook of Transport Economics, chapter 33, Edward Elgar Publishing.
    5. Daniel J. Graham, 2007. "Agglomeration, Productivity and Transport Investment," Journal of Transport Economics and Policy, University of Bath, vol. 41(3), pages 317-343, September.
    6. Wardman, Mark, 2004. "Public transport values of time," Transport Policy, Elsevier, vol. 11(4), pages 363-377, October.
    7. Anthony J. Venables, 2007. "Evaluating Urban Transport Improvements: Cost-Benefit Analysis in the Presence of Agglomeration and Income Taxation," Journal of Transport Economics and Policy, University of Bath, vol. 41(2), pages 173-188, May.
    8. André de Palma & Robin Lindsey & Emile Quinet & Robert Vickerman, 2011. "Handbook Of Transport Economics," PSE-Ecole d'économie de Paris (Postprint) halshs-00754912, HAL.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ginés de Rus & Javier Campos & Armando Ortuno & M. Pilar Socorro & Jorge Valido, 2020. "Evaluación Económica de Proyectos y Políticas de Transporte: Metodología y Aplicaciones Parte 2: Análisis coste-beneficio de proyectos ferroviarios: líneas de alta velocidad y suburbanas," Working Papers 2020-12, FEDEA.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kanemoto, Yoshitsugu, 2013. "Evaluating benefits of transportation in models of new economic geography," Economics of Transportation, Elsevier, vol. 2(2), pages 53-62.
    2. Vickerman, Roger, 2017. "Beyond cost-benefit analysis: the search for a comprehensive evaluation of transport investment," Research in Transportation Economics, Elsevier, vol. 63(C), pages 5-12.
    3. Lee, Jae Kwang, 2021. "Transport infrastructure investment, accessibility change and firm productivity: Evidence from the Seoul region," Journal of Transport Geography, Elsevier, vol. 96(C).
    4. Hörcher, Daniel & Tirachini, Alejandro, 2021. "A review of public transport economics," Economics of Transportation, Elsevier, vol. 25(C).
    5. Rich, Jeppe & Vandet, Christian Anker, 2019. "Is the value of travel time savings increasing? Analysis throughout a financial crisis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 124(C), pages 145-168.
    6. Mark Delucchi & Don McCubbin, 2011. "External Costs of Transport in the United States," Chapters, in: André de Palma & Robin Lindsey & Emile Quinet & Roger Vickerman (ed.), A Handbook of Transport Economics, chapter 15, Edward Elgar Publishing.
    7. World Bank, 2014. "Regional Economic Impact Analysis of High Speed Rail in China : Main Report," World Bank Publications - Reports 19996, The World Bank Group.
    8. Robson, Edward N. & Wijayaratna, Kasun P. & Dixit, Vinayak V., 2018. "A review of computable general equilibrium models for transport and their applications in appraisal," Transportation Research Part A: Policy and Practice, Elsevier, vol. 116(C), pages 31-53.
    9. Li, Hui & Dong, Xiucheng & Jiang, Qingzhe & Dong, Kangyin, 2021. "Policy analysis for high-speed rail in China: Evolution, evaluation, and expectation," Transport Policy, Elsevier, vol. 106(C), pages 37-53.
    10. Clifford Winston, 2013. "On the Performance of the U.S. Transportation System: Caution Ahead," Journal of Economic Literature, American Economic Association, vol. 51(3), pages 773-824, September.
    11. Peter Mackie & Daniel Graham & James Laird, 2011. "The Direct and Wider Impacts of Transport Projects: A Review," Chapters, in: André de Palma & Robin Lindsey & Emile Quinet & Roger Vickerman (ed.), A Handbook of Transport Economics, chapter 21, Edward Elgar Publishing.
    12. Forsyth, Peter, 2021. "Assessing the wider economic benefits of air transport," Transport Policy, Elsevier, vol. 104(C), pages 11-18.
    13. Fröidh, Oskar & Nelldal, Bo-Lennart, 2015. "The impact of market opening on the supply of interregional train services," Journal of Transport Geography, Elsevier, vol. 46(C), pages 189-200.
    14. Rothengatter, Werner, 2017. "Wider economic impacts of transport infrastructure investments: Relevant or negligible?," Transport Policy, Elsevier, vol. 59(C), pages 124-133.
    15. Rothengatter, Werner, 2019. "Approaches to Measure the Wider Economic Impacts of High-Speed Rail and Experiences from Europe," ADBI Working Papers 946, Asian Development Bank Institute.
    16. Vickerman, Roger, 2015. "High-speed rail and regional development: the case of intermediate stations," Journal of Transport Geography, Elsevier, vol. 42(C), pages 157-165.
    17. Alpkokin, Pelin & Topuz Kiremitci, Sabahat & Black, John Andrew & Cetinavci, Sukru, 2016. "LRT and street tram policies and implementation in turkish cities," Journal of Transport Geography, Elsevier, vol. 54(C), pages 476-487.
    18. Johannes Bröcker, 2013. "Wider Economic Benefits from Communication-Cost Reductions: An Endogenous Growth Approach," Environment and Planning B, , vol. 40(6), pages 971-986, December.
    19. Roger Vickerman, 2013. "The wider economic impacts of mega-projects in transport," Chapters, in: Hugo Priemus & Bert van Wee (ed.), International Handbook on Mega-Projects, chapter 17, pages 381-397, Edward Elgar Publishing.
    20. Small, Kenneth A., 2012. "Valuation of travel time," Economics of Transportation, Elsevier, vol. 1(1), pages 2-14.

    More about this item

    Keywords

    Appraisal; Rail; Britain;
    All these keywords.

    JEL classification:

    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:retrec:v:47:y:2014:i:c:p:19-26. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/620614/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.