Bridge to Somewhere: Valuing Auckland's Northern Motorway Extensions
AbstractWe estimate net benefits arising from extensions to Auckland's Northern Motorway since 1991. Population, employment and land values rose substantially near the new exits and to the north of the motorway extension, relative to developments elsewhere. We use changes in land values (controlling for other factors) to measure gross benefits of the extensions, which we compare with project costs to determine the project's benefit: cost ratio (B:C). The B:C is at least 6.3. We discuss the types of net benefit and cost that are included and excluded from these estimates, and contrast our methodology with traditional ex-ante B:C approaches. © 2010 LSE and the University of Bath
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Bibliographic InfoArticle provided by London School of Economics and University of Bath in its journal Journal of Transport Economics and Policy (JTEP).
Volume (Year): 44 (2010)
Issue (Month): 3 (September)
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Web page: http://www.bath.ac.uk/e-journals/jtep
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- Arthur Grimes, 2011.
"Building Bridges: Treating a New Transport Link as a Real Option,"
ERSA conference papers
ersa11p332, European Regional Science Association.
- Arthur Grimes, 2011. "Building Bridges: Treating a New Transport Link as a Real Option," Working Papers 11_12, Motu Economic and Public Policy Research.
- Arthur Grimes, 2010. "The Economics of Infrastructure Investment: Beyond Simple Cost Benefit Analysis," Working Papers 10_05, Motu Economic and Public Policy Research.
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