Alternative Decision Criteria: Equity, Economic Development and Environmental Externalities

  • Joseph Berechman
Chapter

Abstract

Economic welfare theory suggests that decision-makers, when selecting an infrastructure investment, should strive to maximize net welfare, measured mainly as the change in consumer surplus subsequent to the investment. In terms of transportation investment analysis, such a criterion is measured in terms of the value of reduced travel times and costs, improved accessibility to locations, spatial coverage, improved safety, favorable modal shares, and improved system capacity and connectivity.

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Joseph Berechman
    • 1
  1. 1.City College of New YorkUniversity of New YorkNew YorkUSA

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