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Option and non-use values and rail project appraisal

Laird, James / Geurs, Karst / Nash, Chris

AbstractOption 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).

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Option and non-use values and rail project appraisal

Laird, James / Geurs, Karst / Nash, Chris

AbstractOption 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).

Option and non-use values and rail project appraisal

Laird, James / Geurs, Karst / Nash, Chris

AbstractOption 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).

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Title:

Option and non-use values and rail project appraisal

Contributors:

Laird, James (author) / Geurs, Karst (author) / Nash, Chris (author)

Published in:

Transport Policy ; 16 ; 173-182

Publication date:

2009-01-01

Size:

10 pages

ISSN:

DOI:

https://doi.org/10.1016/j.tranpol.2009.05.002

Type of media:

Article (Journal)

Type of material:

Electronic Resource

Language:

English

Keywords:

Option values , Non-use values , Transport appraisal

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