Access-based cost-benefit analysis

Isaac Mann and David Levinson

Journal of Transport Geography, 2024, vol. 119, issue C

Abstract: Current methods of cost-benefit analysis (CBA) for transport investments rely on travel-time savings for potential users. This approach presents a consistent and significant historical trend of forecast inaccuracy, and thus has been questioned and criticized. Access, or the ease of reaching valued destinations, can be used as an alternative. Access features a strong correlation with land value which can be measured through hedonic analysis, and subsequently, access gains offered by a transport initiative can be monetised via property uplift. We test this hypothesis and evaluate Sydney's South West Metro Link (SWML).

Keywords: Cost-benefit analysis; Hedonic regression; Accessibility; Value capture; Transit-oriented development (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jotrge:v:119:y:2024:i:c:s0966692324001613

DOI: 10.1016/j.jtrangeo.2024.103952

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