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Option and non-use values and rail project appraisal

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  • Laird, James
  • Geurs, Karst
  • Nash, Chris

Abstract

Option values and non-use values are well-known concepts in environmental economics, but so far there been few attempts to apply the concepts to the transportation field. This paper therefore firstly reviews empirical studies on transport option and non-use values, and secondly examines the inclusion of option and non-use values in five rail scheme appraisals in the UK. We find that whilst the evidence base is small, the importance of option and non-use values is large where user benefits are low and for projects involving the provision (or loss) of commuting opportunities (including station openings/closures).

Suggested Citation

  • Laird, James & Geurs, Karst & Nash, Chris, 2009. "Option and non-use values and rail project appraisal," Transport Policy, Elsevier, vol. 16(4), pages 173-182, August.
    • Handle: RePEc:eee:trapol:v:16:y:2009:i:4:p:173-182
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    8. Feixiong Liao & Bert van Wee, 2017. "Accessibility measures for robustness of the transport system," Transportation, Springer, vol. 44(5), pages 1213-1233, September.
    9. Tsvetan G. Tsvetanov & Farhed A. Shah, 2012. "The Economics of Protection against Sea-Level Rise: An Application to Coastal Properties in Connecticut," Working Papers 10, University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy.
    10. Xun Zheng & Tomio Miwa, 2019. "A Comparative Analysis on Residents’ Reservation Willingness for Bus Service Based on Option Price," Sustainability, MDPI, vol. 11(1), pages 1-12, January.
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    14. del Mar Parra López, María & Annema, Jan Anne & van Wee, Bert, 2022. "The added value of having multiple options to travel to. An explorative study," Journal of Transport Geography, Elsevier, vol. 98(C).
    15. Arthur Grimes, 2010. "The Economics of Infrastructure Investment: Beyond Simple Cost Benefit Analysis," Working Papers 10_05, Motu Economic and Public Policy Research.
    16. van Wee, Bert & Börjesson, Maria, 2015. "How to make CBA more suitable for evaluating cycling policies," Transport Policy, Elsevier, vol. 44(C), pages 117-124.
    17. Jean-Philippe Meloche & Vincent Trotignon & François Vaillancourt, 2021. "Densification ou prolongement des réseaux de transport structurants ? Une recension des écrits sur les coûts et les bénéfices attendus," CIRANO Project Reports 2020rp-28, CIRANO.
    18. Matthew Palm & Susan Handy, 2018. "Sustainable transportation at the ballot box: a disaggregate analysis of the relative importance of user travel mode, attitudes and self-interest," Transportation, Springer, vol. 45(1), pages 121-141, January.
    19. Karel Martens, 2012. "A justice-theoretic exploration of accessibility measures," Chapters, in: Karst T. Geurs & Kevin J. Krizek & Aura Reggiani (ed.), Accessibility Analysis and Transport Planning, chapter 11, pages 195-210, Edward Elgar Publishing.

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