Pitfalls in estimating “wider economic benefits” of transportation projects
AbstractThe Department for Transport in the United Kingdom has been a pioneer in including indirect benefits in the cost–benefit analysis of a transport project. They identify three types of wider impacts, i.e., (1) agglomeration, (2) increased or decreased output in imperfectly competitive markets, and (3) labor market impacts, and provide detailed guidelines on how to estimate them. Extending a differentiated product model that provides the microfoundations of urban agglomeration economies to include all three types of the wider impacts, this paper examines whether the British methodology of estimating the wider benefits can be justified theoretically.
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Bibliographic InfoPaper provided by National Graduate Institute for Policy Studies in its series GRIPS Discussion Papers with number 13-20.
Length: 30 pages
Date of creation: Oct 2013
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-10-18 (All new papers)
- NEP-PPM-2013-10-18 (Project, Program & Portfolio Management)
- NEP-TRE-2013-10-18 (Transport Economics)
- NEP-URE-2013-10-18 (Urban & Real Estate Economics)
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