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Quantifying the Socio-economic Benefits of Transport Roundtable

Paris , France , 9 - 10 November 2015
Chair:
Jonas Eliasson, Director of the Centre for Transport Studies at the Royal Institute of Technology (KTH), Sweden

Summary and Conclusions

Quantifying the Socio-economic Benefits of Transport

Roundtable Report, 20 January 2017

Scope

A commonly used quantitative measure of the extent to which a project, over its lifetime, will bring benefits that exceed its costs is cost-benefit analysis (CBA). However, CBA faces major challenges:

  • There can be a mismatch between what a CBA delivers and the information most sought by decision makers (such as impacts on jobs and regional growth).
  • The scope of benefits captured in a CBA is generally constrained by practical limitations of forecasting and valuation.
  • Fundamental changes to the quantity or locations of businesses, investments, households and employment anticipated from transport investments are not captured within standard CBA.

To explore these issues, the ITF convened a Roundtable meeting of 30 experts from around the world to present and discuss the state of knowledge. The Roundtable report brings together the input papers and discussions. The report describes efforts to improve decision making through improving the quality of transport CBA. Three areas are addressed in detail: strategies for making the most of CBA, valuing and forecasting reliability benefits, and capturing wider economic impacts of transport investments.

Multimedia

Chair's Summary

Quantifying Socio-Economic Benefits of Transport - Chair's Summary

Papers and presentations

The Valuation of Travel Time Variability

pdf View Presentation, slides, speech (PDF) (347.41 KB)
Presentation, slides, speech, 9 November 2015
  • Mogens Fosgerau
    Danish Technical University, Copenhagen, Demark

The Valuation of Travel Time Variability

Forecasting Travel Time Reliability in Road Transport. A New Model for The Netherlands

pdf View Presentation, slides, speech (PDF) (2.01 MB)
Presentation, slides, speech, 9 November 2015
  • Marco Kouwenhoven
    Significance, The Hague, The Netherlands
  • Pim Warffemius
    KiM Netherlands Institute for Transport Policy Analysis

Forecasting Travel Time Reliability in Road Transport

Incorporating Wider Economic Impacts Within Cost-Benefit Appraisal

pdf View Presentation, slides, speech (PDF) (479.93 KB)
Presentation, slides, speech, 9 November 2015
  • Anthony Venables
    University of Oxford, UK

Incorporating Wider Economic Impacts Within Cost-Benefit Appraisal

Estimating Wider Economic Impacts in Transport Project Prioritisation using Ex-Post Analysis

pdf View Presentation, slides, speech (PDF) (3.97 MB)
Presentation, slides, speech, 10 November 2015
  • Glen Weisbrod
    Economic Development Research Group, Boston, USA

Estimating Wider Economic Impacts in Transport Project Prioritisation Using Ex-Post Analysis