Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Utility maximization, demand systems and transport benefit evaluation
Recently Johnson has outlined the utility‐maximization approach to the estimation of transport demand functions. This note demonstrates how the use of such demand systems permits improvements to be made in the evaluation of the benefits of transport investments through the measurement of more satisfactory indices of consumer surplus than the Marshallian area under an ordinary demand curve. Section 2 outlines the alternative measures of consumer surplus and their relationship with demand curves in the case where only one price changes. In Section 3 we employ the theory of duality to show how the compensating variation and equivalent variation can be derived from utility‐based demand systems. The approach is illustrated using the linear expenditure system in Section 4, while Section 5 concludes with some comments on alternative utility‐based demand systems and the practicality of this approach to evaluation.
Utility maximization, demand systems and transport benefit evaluation
Recently Johnson has outlined the utility‐maximization approach to the estimation of transport demand functions. This note demonstrates how the use of such demand systems permits improvements to be made in the evaluation of the benefits of transport investments through the measurement of more satisfactory indices of consumer surplus than the Marshallian area under an ordinary demand curve. Section 2 outlines the alternative measures of consumer surplus and their relationship with demand curves in the case where only one price changes. In Section 3 we employ the theory of duality to show how the compensating variation and equivalent variation can be derived from utility‐based demand systems. The approach is illustrated using the linear expenditure system in Section 4, while Section 5 concludes with some comments on alternative utility‐based demand systems and the practicality of this approach to evaluation.
Utility maximization, demand systems and transport benefit evaluation
Dodgson, J. S. (Autor:in)
Transportation Planning and Technology ; 7 ; 49-54
01.09.1981
6 pages
Aufsatz (Zeitschrift)
Elektronische Ressource
Unbekannt
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