High-speed trains can compete successfully with road, air and conventional rail services on densely trafficked routes where willingness to pay is sufficient at the relatively elevated fare levels needed to cover costs. High-speed rail investments can also relieve congestion on the conventional...

This report discusses the state of the art in understanding the economic effects of major transport infrastructure projects. It examines the limits of socio-economic cost-benefit analysis (CBA) and reviews the development of complementary and alternative approaches to assessing the benefits of...