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Land use/transport models and economic assessment

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  • Echenique, Marcial

Abstract

This paper discusses the economic assessment of policies using land use/transport models. It argues that conventional forms of assessment focussing only on transport changes can underestimate the economic benefits of a policy. The paper argues that the benefits need to be measured by the changes of prices at the end of a trip and not just by the changes in travel costs. Models that do not estimate the changes of prices at the end of a trip cannot properly assess the impact of a policy. The model used in this paper is based on the MEPLAN software and estimates the location of households and employment and the interaction between them. It also estimates the cost of living for households and the production costs for employment. With these costs, it is possible to calculate the wider economic benefits beyond transport. The paper illustrates the assessment of policies for the Cambridge sub-region involving investment in public transport, orbital highway and congestion charging policies. The results forecast by the model are assessed in terms of the conventional cost-benefit using traveller's surplus as benefits and compared with a wider assessment measure of compensation variation. It demonstrates that the last measure encompasses the wider benefits associated with transport policies which are not taken into account in conventional cost-benefit analysis.

Suggested Citation

  • Echenique, Marcial, 2011. "Land use/transport models and economic assessment," Research in Transportation Economics, Elsevier, vol. 31(1), pages 45-54.
    • Handle: RePEc:eee:retrec:v:31:y:2011:i:1:p:45-54
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    References listed on IDEAS

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    1. Quddus, Mohammed A. & Bell, Michael G.H. & Schmöcker, Jan-Dirk & Fonzone, Achille, 2007. "The impact of the congestion charge on the retail business in London: An econometric analysis," Transport Policy, Elsevier, vol. 14(5), pages 433-444, September.
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    Cited by:

    1. Mir Aftab Hussain Talpur & Shabir Hussain Khahro & Tauha Hussain Ali & Hassam Bin Waseem & Madzlan Napiah, 2023. "Computing travel impendences using trip generation regression model: a phenomenon of travel decision-making process of rural households," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(7), pages 5973-5996, July.
    2. Russo, Francesco & Musolino, Giuseppe, 2012. "A unifying modelling framework to simulate the Spatial Economic Transport Interaction process at urban and national scales," Journal of Transport Geography, Elsevier, vol. 24(C), pages 189-197.
    3. Mingfei Ma & Ying Jin, 2019. "Economic impacts of alternative greenspace configurations in fast growing cities: The case of Greater Beijing," Urban Studies, Urban Studies Journal Limited, vol. 56(8), pages 1498-1515, June.

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