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Consumer’s Surplus: An Equity Measure of High Speed Rail Investments

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  • Francesca Pagliara

    (Department of Civil, Architectural and Environmental Engineering, University of Naples Federico II, 80121 Naples, Italy)

Abstract

An economic analysis identifies, measures, and compares the costs and benefits of alternative interventions, with the objective of supporting decisions concerning the best use of limited resources. The cost benefit analysis (CBA) has played a significant role within the entire decision-making process, and is the principal assessment methodology. In recent years, equity issues in relation to transportation planning have become a hot topic at an international level. In this paper, the objective was to integrate equity within the evaluation of transport projects, specifically high speed rail projects. Here, consumer surplus is conceived as a monetized measure of both direct and indirect benefits for all zones, and for all socioeconomic categories served and not served by HSR, respectively. The added value of this paper is in rethinking these two shares in the computation of the total net present value as equity measures of the project itself. Specifically, the distribution of the HSR benefits among the different groups or zones in a given study area can be computed, and a comparison of the values for each zone of the study area and for each category makes it possible to assess the effects of equity between zones/categories.

Suggested Citation

  • Francesca Pagliara, 2021. "Consumer’s Surplus: An Equity Measure of High Speed Rail Investments," Sustainability, MDPI, vol. 13(8), pages 1-8, April.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:8:p:4537-:d:539032
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    References listed on IDEAS

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    1. Francesca Pagliara & Yoshitsugu Hayashi & Kallidaikurichi Seetha Ram, 2022. "High-Speed Rail, Equity and Inclusion," Sustainability, MDPI, vol. 14(11), pages 1-4, May.
    2. Bruzzone, Francesco & Cavallaro, Federico & Nocera, Silvio, 2023. "The effects of high-speed rail on accessibility and equity: Evidence from the Turin-Lyon case-study," Socio-Economic Planning Sciences, Elsevier, vol. 85(C).

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