This review considers the role of environmental effects in transport investment appraisal, mainly from the perspective of cost-benefit analysis, the most widely adopted appraisal technique. Although the basic principles of CBA are straightforward, several complications are identified that may...

This paper uses the Kaldor-Hicks compensation principle to compute the present value (PV) of a non-marginal future event. Three theoretical results stand out: First, decreasing returns to capital create a wedge between the PV of future generations' willingness to pay (WTP) and the PV of their...

Gollier and Weitzman (2010) show that if future consumption discount rates are uncertain and persistent, the consumption discount rate should decline to its lowest possible value for events in the most distant future. In this paper, I argue that the lowest possible growth rate of consumption per...

This review considers the role of environmental effects in transport investment appraisal, mainly from the perspective of cost-benefit analysis, the most widely adopted appraisal technique. Although the basic principles of CBA are straightforward, several complications are identified that may...

Nowadays, e-services technology has demonstrated a pervasive character in the modern tourism industry. e-Services implemented by the tourism industry, e.g. e-tourism, appeared to produce significant cost reductions and market efficiencies. Since online services are continuously accessible, time...

The ISAAC project has generated a wealth of new insights on cultural tourism. Particular attention has been paid to the strategic and operational importance of e-services in various European cities. The present paper brings together empirical insights from two angles, viz the supply and demand...

Although cultural heritage has attracted much policy and research interest in recent years, it is still unclear to what extent it has a significant economic impact. In most countries the cultural tourist sector definitely represents a productive branch, which in our open world is growing in...