Mouter, N, Ojeda-Cabral, M orcid.org/0000-0003-0343-2215, Dekker, T orcid.org/0000-0003-2313-8419 et al. (1 more author) (2019) The value of travel time, noise pollution, recreation and biodiversity: A social choice valuation perspective. Research in Transportation Economics, 76. 100733. ISSN 0739-8859
Abstract
Environmental effects of transport projects have a weak position in Cost-Benefit Analysis (CBA) which might be rooted in the valuation approach adopted in the dominant style of CBA. This conventional valuation approach has been criticized for not valuing positive and negative impacts of transport projects in relation to each other and for not valuing such impacts in a public context, but in the context of private decisions. These critiques might be circumvented through valuing transport projects in a social choice context in which overall burdens and benefits of proposed transport projects are considered together in a public context. We investigate the extent to which a social choice valuation approach produces different outcomes than a conventional valuation approach. We conducted four social choice valuation experiments in which respondents were asked to choose between alternatives for a new road, trading off travel time and three environmental impacts (noise, recreation and biodiversity). Our findings suggest that, under social choice valuation, individuals assign substantially more value to environmental impacts than travel time as compared to conventional valuation studies. Moreover, in a social choice setting, respondents assigned monetary values to impacts that are not (or only qualitatively) considered in conventional CBAs of transport projects.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2019 Elsevier Ltd. All rights reserved. This is an author produced version of a paper published in Research in Transportation Economics. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Cost-benefit analysis; Social choice valuation; Transport policy; Transport appraisal; Environmental valuation; Travel time; Noise; Biodiversity; Recreation |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Environment (Leeds) > Institute for Transport Studies (Leeds) > ITS: Choice Modelling The University of Leeds > Faculty of Environment (Leeds) > Institute for Transport Studies (Leeds) > ITS: Economics and Discrete Choice (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 11 Sep 2019 12:55 |
Last Modified: | 11 Jun 2020 00:38 |
Status: | Published |
Publisher: | Elsevier |
Identification Number: | 10.1016/j.retrec.2019.05.006 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:150718 |
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Filename: Mouter et al value environment travel time - final accepted version.pdf
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