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Valuation of public investment to support bicycling (FV-09)

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  • Thomas Götschi
  • Beat Hintermann

    ()
    (University of Basel)

Abstract

In this paper we develop a framework to value public investments with the purpose of increasing bicycling that explicitly accounts internal costs of bicycling, which are typically neglected in current established approaches that value bicycle spending by means of gross health benefits alone, as are inframarginal benefits to existing cyclists.� By monetizing internal costs independent of health benefits, we can assess the degree of internalization of private benefits and/or the internalization of external benefits such as environmental improvements due to altruistic preferences by cyclists.� Our framework further conceptualizes the complementarity between “hard” (investments in infrastructure) and “soft” measures (informational campaigns) in bicycle policy.� Finally, we propose an empirical method for identifying internal costs using a latent variable approach and apply it to eight Swiss cities.� Our results imply that Swiss cyclists internalize more than mortality-based benefits.� However, because data for some important bicycle mode choice determinants are not available, our results cannot inform policy directly at the current stage.� Instead, the contributions of our paper are the development of an economically consistent framework to value public bicycle investments and the identification of crucial data needs for the development of comprehensive assessments informing bicycle policy decisions.

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Bibliographic Info

Paper provided by Faculty of Business and Economics - University of Basel in its series Working papers with number 2013/02.

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Date of creation: 2013
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Handle: RePEc:bsl:wpaper:2013/02

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Keywords: Cost-benefit analysis; bicycle; valuation; latent variable; MIMIC;

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  1. Janice Kirner Providelo & Suely Penha Sanches, 2011. "Roadway and traffic characteristics for bicycling," Transportation, Springer, vol. 38(5), pages 765-777, September.
  2. Rietveld, Piet & Daniel, Vanessa, 2004. "Determinants of bicycle use: do municipal policies matter?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 38(7), pages 531-550, August.
  3. Wardman, Mark & Tight, Miles & Page, Matthew, 2007. "Factors influencing the propensity to cycle to work," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(4), pages 339-350, May.
  4. Beat Hintermann & Anna Alberini & Anil Markandya, 2006. "Estimating the Value of Safety with Labor Market Data: Are the Results Trustworthy?," Working Papers 2006.119, Fondazione Eni Enrico Mattei.
  5. Xing, Yan & Handy, Susan L. & Mokhtarian, Patricia L., 2010. "Factors Associated with Proportions and Miles of Bicycling for Transportation and Recreation in Six Small U.S. Cities," Institute of Transportation Studies, Working Paper Series qt74n4j1p0, Institute of Transportation Studies, UC Davis.
  6. Roland Bénabou & Jean Tirole, 2004. "Incentives and Prosocial Behavior," Working Papers 137, Princeton University, Woodrow Wilson School of Public and International Affairs, Discussion Papers in Economics..
  7. Ralph Buehler & John Pucher, 2012. "Cycling to work in 90 large American cities: new evidence on the role of bike paths and lanes," Transportation, Springer, vol. 39(2), pages 409-432, March.
  8. Ipek Sener & Naveen Eluru & Chandra Bhat, 2009. "An analysis of bicycle route choice preferences in Texas, US," Transportation, Springer, vol. 36(5), pages 511-539, September.
  9. John Parkin & Mark Wardman & Matthew Page, 2008. "Estimation of the determinants of bicycle mode share for the journey to work using census data," Transportation, Springer, vol. 35(1), pages 93-109, January.
  10. B. Douglas Bernheim & Antonio Rangel, 2005. "Behavioral Public Economics: Welfare and Policy Analysis with Non-Standard Decision-Makers," Discussion Papers 04-033, Stanford Institute for Economic Policy Research.
  11. VANDENBULCKE, Grégory & DUJARDIN, Claire & THOMAS, Isabelle & de GEUS, Bas, . "Cycle commuting in Belgium: spatial determinants and 're-cycling' strategies," CORE Discussion Papers RP -2313, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  12. J. Hunt & J. Abraham, 2007. "Influences on bicycle use," Transportation, Springer, vol. 34(4), pages 453-470, July.
  13. Smith, Bruce H., 1991. "Anxiety as a cost of commuting to work," Journal of Urban Economics, Elsevier, vol. 29(2), pages 260-266, March.
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