The use of economic appraisal in transportation analysis

Ca Nash

Omega, 1979, vol. 7, issue 5, 441-450

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.

Date: 1979
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