Economics, Econometrics and Finance
4 years ago

New model calculates welfare impacts of passenger transport projects accurately.

ERSA conference papers
Passenger flows in CGE models for transport project evaluation
Johannes Bröcker

Paper Summary

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The article explores how transport projects affect people's well-being, focusing on passenger travel. It introduces a new model that considers both goods and passenger transport costs. By analyzing individual behavior, the model calculates passenger flows and measures the impact of time and cost savings on welfare. The researchers aim to quantify these effects in monetary terms using real-world data.