The note focuses on three specific ways in which sub-optimal pricing can impact on project benefits: 1) through congestion and overcrowding (Section 1); 2) through overpricing and loss of user benefits (Section 2); and 3) through financial deficits which have implications for the rest of the...

This note has been drawn from a number of texts including "The Value of Time In Economic Evaluation of Transport Projects" (Gwilliam, 1997), "Values of Travel Time Savings in the UK - Summary and Conclusions" (Mackie et al, 2003), and "The Value of Time in least Developed Countries" (IT...

Historically, road vehicle operating costs have tended to dominate highway economic appraisals in developing countries, due to the poor road surfaces that can occur there. The operating costs of railways and ports are also substantial, and form key components of cost benefit analyses of their...