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The relevance of Dupuit in the 21st century

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  • Vickerman, Roger

Abstract

This short note considers the issues raised by Rothengatter's paper and discusses their implications for the way major transport infrastructure investments are appraised today. Using examples from some recent UK appraisals it focuses on the question of the difference between the marginal assumptions used as the basis of most cost-benefit analysis and the step changes implicit in large scale infrastructure projects. Further it looks at the extent to which wider economic impacts can be assimilated into appraisal rather than being treated as an add-on to conventional CBA.

Suggested Citation

  • Vickerman, Roger, 2018. "The relevance of Dupuit in the 21st century," Transport Policy, Elsevier, vol. 70(C), pages 69-70.
    • Handle: RePEc:eee:trapol:v:70:y:2018:i:c:p:69-70
    DOI: 10.1016/j.tranpol.2018.04.015
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    References listed on IDEAS

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    1. Vickerman, Roger, 2018. "Can high-speed rail have a transformative effect on the economy?," Transport Policy, Elsevier, vol. 62(C), pages 31-37.
    2. Krugman, Paul, 1991. "Increasing Returns and Economic Geography," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 483-499, June.
    3. Luc Baumstark & Alain Bonnafous, 2010. "Calcul économique et politique de transport : de Jules Dupuit à Maurice Allais," Post-Print halshs-00958373, HAL.
    4. 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.
    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. 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.
    7. Wagner, Alfred, 1891. "Marshall's Principles of Economics," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 5, pages 319-338.
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