The benefits captured in an appraisal of a railway investment are determined by what timetables the analyst assumes in the scenarios with and without the investment. Without an explicit, objective and verifiable principle for which timetables to assume, the appraisal outcome is virtually...

A number of highly cited papers by Flyvbjerg and associates have shown that ex-ante infrastructure appraisals tend to be overly optimistic. Ex post evaluations indicate a bias where investment cost is higher and demand lower on average than predicted ex ante. These authors argue that the bias...

We provide a synthesis of results and insights from the Swedish Value of Time study, with focus on what is relevant for transport appraisal and understanding travel behaviour. We summarize recent econometric advances, and show how these enable a better understanding and identification of the...

One of the most common motivations for public transport investments is increased capacity. However, appraisal methodologies for projects meant to increase capacity are relatively less well developed compared to methodologies for projects aiming to reduce travel times. Each of the consequences of...