The Appraisal of Highway Investments under Fixed and Variable Demand

The Appraisal of Highway Investments under Fixed and Variable Demand

The authors use a simplified model to analyse the circumstances in which fixed demand estimation will severely over- or under-estimate the equilibrium benefit of highway schemes. In view of the importance of a correct estimate of any traffic likely to be estimated, they suggest it would be appropriate to perform as a matter of course a sensitivity analysis of the benefit measures to variations in predicted response.

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Economies of Scale in Bus transport: I. Some British Municipal Results

This study was prompted by the proposal to merge a number of municipal transport undertakings into Passenger transport Authorities. The authors analyse figures showing various working expenses per bus-mile, and find no evidence of scale economies. They point out, however, that the P.T.A.s will be larger than any undertaking in their sample, and that a different conclusion might conceivably be reached if data were available on costs per passenger-mile. Extension of one-man operation appears to offer greater scope for economies than amalgamation.

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