 Dynamic Efficiency and Transportation Infrastructure Investment”John R. Bartle No 208229, 45th Annual Transportation Research Forum, Evanston, Illinois, March 21-23, 2004 from Transportation Research Forum Abstract: The concept of efficiency has long been applied to transportation, and was a prominent justification for the Intermodal Surface Transportation Efficiency Act of 1991 (ISTEA) [emphasis added]. However, other ideals have justified transportation policy often to the detriment of efficiency. In this paper I argue that a broader view of efficiency is needed and that it should be the primary criterion in making transportation policy. This conception of efficiency developed here, dynamic efficiency, draws from transaction cost theory to incorporate institutions into the analysis and as such resolves some dilemmas posed by previous economic analysis. It also suggests an analytical method for making decisions about the design of institutional structure in this policy area. Finally it has a dynamic component which charts out a path for optimal economic development in a holistic way that integrates transportation policy with environmental, land use, and social policy. Several illustrations of how existing transportation policy could be changed to improve dynamic efficiency are given. Keywords: Research and Development/Tech Change/Emerging Technologies; Research Methods/Statistical Methods (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ags:ndtr04:208229 Access Statistics for this paper More papers in 45th Annual Transportation Research Forum, Evanston, Illinois, March 21-23, 2004 from Transportation Research Forum |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.