Option and non-use values and rail project appraisal

Transport Policy

Volumn 16, Issue 4, 2009, Pages 173-182

  Laird, James ^a   Geurs, Karst ^b   Nash, Chris ^a  

^a UNIVERSITY OF LEEDS   (United Kingdom)

^b PBL NETHERLANDS ENVIRONMENTAL ASSESSMENT AGENCY   (Netherlands)

Author keywords

Non use values; Option values; Transport appraisal

Indexed keywords

COMMUTING; EMPIRICAL ANALYSIS; ENVIRONMENTAL ECONOMICS; RAILWAY TRANSPORT; TRANSPORTATION POLICY;

EURASIA; EUROPE; UNITED KINGDOM; WESTERN EUROPE;

EID: 68749086000     PISSN: 0967070X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.tranpol.2009.05.002     Document Type: Article

References (34)

1. Arrow K.J., and Fisher A.C. Environmental preservation, uncertainty and irreversibility. Quarterly Journal of Economics 88 (1974) 312-319
2. Baarsma B. Monetary Valuation of Environmental Goods. Alternatives to Contingent Valuation (2000), University of Amsterdam, Amsterdam
3. Bateman I.J., Carson R.T., Day B., Hanemann M., Hanley N., Hett T., Lee M.J., Loomes G., Mourato S., Ozdemiroglu E., Pearce D.W., Sugden R., and Swanson J. Economic Valuation with Stated Preference Techniques: A Manual (2002), Edward Elgar, Cheltenham/Northampton
4. Bishop R.C. Option value: an exposition and extension. Land Economics 58 1 (1982) 1-15
5. Bonsall P., Wardman M., Nash C., and Hopkinson P. Development of a survey instrument to measure subjective valuations of non-use benefits of local public transport services. In: Ampt E.S., Richardson A., and Meyburg A. (Eds). Selected Readings in Transport Survey Methodology (1992), Eucalyptus Press, University of Melbourne, Melbourne 71-87
6. Bristow, A.L., Hopkinson, P.G., Nash, C.A., Wardman, M., 1991. Evaluation of the use and non-use benefits of public transport. Report No. 2. Application of the method. ITS working paper 310, Institute for Transport Studies, Leeds.
7. Carson R.T., Wright J., Carson N., Alberni A., and Flores N. A Bibliography of Contingent Valuation Studies and Papers (1995), Natural Resource Damage Assessment, Inc., La Jolla, CA
8. Carson R.T., Flores N.E., and Mitchell R.C. The theory and measurement of passive-use value. In: Bateman I.J., and Willis K.G. (Eds). Valuing Environmental Preferences: Theory and Practice of the Contingent Valuation Method in the US, UK and Developing Countries (1999), Oxford University Press, Oxford (Chapter 4)
9. Crockett, D., 1992. Should non-use benefits be included in social cost benefit analysis. MA Thesis, Institute for Transport Studies, University of Leeds, Leeds.
10. Debrezion, G., Pels, E., Rietveld, P., 2006. The impact of rail transport on real estate prices: an empirical analysis of the Dutch housing markets. Discussion Paper, Free University of Amsterdam, Amsterdam 〈http://www.tinbergen.nl/discussionpapers/06031.pdf〉.
11. Department for Environment, Transport and the Regions. A New Deal for Transport (1998), The Stationary Office, London
12. Department for Transport, 2003. The Option Values Sub-Objective. TAG Unit 3.6.1. Department for Transport: London. 〈http://www.webtag.org.uk/webdocuments/3_Expert/6_Accessibility_Objective/3.6.1.htm〉.
13. Department for Transport, 2006. Consultation on the Implementation of the Railways Act 2005 Provisions on Closures and Minor Modifications, London.
14. Department for Transport. The Option Values and Non-Use Values Sub-Objective-Consultation on New Guidance (2007), Department for Transport, London
15. Geurs K.T., Haaijer R., and van Wee B. The option value of public transport: methodology for measurement and case study for regional rail links in the Netherlands. Transport Reviews 26 5 (2006) 613-643
16. Halcrow, 2006. Appraisal of proposed re-opening of station at Conon Bridge: transport economic efficiency analysis. Report to the Highland Rail Partnership and HITRANS, December 2006.
17. In: Hausman J.A. (Ed). Contingent Valuation. A Critical Assessment (1993), North-Holland, Amsterdam
18. Highland Rail Developments, 2000. Beauly Station Re-opening Rail Passenger Partnership Funding Bid, May 2000.
19. Highland Rail Partnership, 2003. Invernet revenue and cost projections [Excel spreadsheet].
20. Humphreys R.M., and Fowkes A.S. The significance of indirect use and non-use values in transport appraisal. International Journal of Transport Economics XXXIII 1 (2006) 17-35
21. Jacobs, 2006. Airdrie-Bathgate Railway and Linked Improvements Bill Design Development Appraisal Report December 2006 (Final draft and private/confidential-not for public display or release in whole or part). Report to Network Rail.
22. Laird, J.J., Batley, R.P., Nash, C.A., Geurs, K., 2006. Option values, non-use values and transport appraisal. Report to the Department for Transport. 〈http://www.dft.gov.uk/pgr/economics/rdg/optionvaluesnonusevaluesandt1078/〉.
23. Lewis-Workman S., and Brod D. Measuring the neighborhood benefits of rail transit accessibility. Transportation Research Record 1584 (1997) 1-7
24. Louviere J.J., Hensher D.A., and Swait J.D. Stated Choice Methods. Analysis and Application (2000), Cambridge University Press, Cambridge, UK
25. McConnell K.E. Does altruism undermine existence value?. Journal of Environmental Economics and Management 32 1 (1997) 22-37
26. Pearce D.W., and Nash C.A. The Social Appraisal of Projects-A Text in Cost-Benefit Analysis (1981), MacMillan, London
27. Pearce D.W., and Turner R.K. Economics of Natural Resources and the Environment (1990), Harvester Wheatsheaf, New York, London
28. Painter K.M., Scott II R.D., Wandschneider P.R., and Casavant K.L. Using contingent valuation to measure user and nonuser benefits: an application to public transit. Review of Agricultural Economics 24 2 (2002) 394-409
29. RICS. Land Value and Public Transport. Stage 1-Summary of Findings (2002), Royal Institution of Chartered Surveyors, London. 〈http://www.ucl.ac.uk/~ucft696/land_value.pdf〉
30. Roson R. Assessing the option value of a publicly provided service: The case of local transport. Urban Studies 38 8 (2001) 1319-1327
31. Schmalansee R. Option demand and consumer's surplus: valuing price changes under uncertainty. American Economic Review 62 (1972) 813-824
32. Tversky A., and Kahneman D. Advances in prospect theory: cumulative representation of uncertainty. Journal of Risk and Uncertainty 9 (1992) 195-230
33. van de Kaa, E.J., 2008. Extended prospect theory. findings on choice behaviour from economics and the behavioural sciences and their relevance for travel behaviour. TRAIL Thesis Series, Delft, Delft University.
34. Weisbrod B.A. Collective-consumption services of individual-consumption goods. Quarterly Journal of Economics 78 (1964) 471-477