Open access
Date
2011-05Type
- Working Paper
ETH Bibliography
yes
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Abstract
This paper is a reply to Metz recent book (2008), in which he pointed out, that current costbenefit practise assumes that short-term gains provide a full picture of the gains from investment. It is also an attempt to sketch the model, which is needed to give the decision makers an idea of the long term impacts of the their short term choices. This would help to avoid overly myopic decisions.<br/>The paper sketches a thought model of how and why infrastructure investment improves overall average welfare through the reduction in the generalised costs of travel. The complete model is currently impossible to implement computationally, but it is possible to test the proposition that omitting choice dimensions means omitting benefits. The test of this proposition is a small scale agent based simulation model of route, mode, departure time and destination. The test results clearly show, that one should not omit choice dimension if credible models for their inclusion exist. Show more
Permanent link
https://doi.org/10.3929/ethz-a-006466512Publication status
publishedJournal / series
Arbeitsberichte Verkehrs- und RaumplanungVolume
Publisher
Eidgenössische Technische Hochschule, Institut für Verkehrs- und RaumplanungSubject
Benefit; Infrastruktur (Wirtschaftswissenschaften); Entscheidungstheorie (Operations Research); Traveller Behaviour (Transportation and Traffic); Model; Externe Effekte; Long term change; Cost-benefit analysis (economy); Travel behaviour; Short term; Cost-benefit analysis; Verkehrsmodelle + Verkehrssimulation (Verkehr und Transport); Fallstudien (Dokumententyp); Case studies (document type); Decision making (operations research); Kosten-Nutzen-Analyse (Wirtschaft); Externalities; Transport models + traffic simulation (transportation and traffic); Infrastructure (economics); Verkehrsverhalten der Bevölkerung (Verkehr und Transport)Organisational unit
03521 - Axhausen, Kay W. (emeritus) / Axhausen, Kay W. (emeritus)
02226 - NSL - Netzwerk Stadt und Landschaft / NSL - Network City and Landscape
02655 - Netzwerk Stadt u. Landschaft ARCH u BAUG / Network City and Landscape ARCH and BAUG
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ETH Bibliography
yes
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