Summary transport economics

Model agencies collude to fix rates Regulators find leading model agencies guilty of price fixing. Large firms are often more efficient than small ones because they can gain from economies of scale, but firms can become too large and suffer from diseconomies of scale. As a firm expands its scale of operations, it is said to move into its long run. The benefits arising from expansion depend upon the effect of expansion on productive efficiencywhich can be assessed by looking at changes in average costs at each stage of production.

Summary transport economics

In general, transport projects that improve overall accessibility i. Many economic impacts are economic transfers one person, group or area benefits at another's expense while others are true resource changes overall economic productivity increases or declines. In many situations, the distribution of impacts is important; for example, from the perspective of the people who gain from an economic transfer, it is a true benefit, but not from society's overall perspective.

It is important to consider the full range of economic impacts, both positive and negative, that a transport project may cause. For example, an urban highway expansion may improve motorists' access and reduce their costs per vehicle-mile, but by creating a barrier to pedestrian travel and stimulating more dispersed land use development patterns, reduces access by other modes, and increases the total amount of travel required to reach destinations.

Examples A new highway or public transport service increases a community's access to other areas. This increases businesses' labor pool, reduces their costs to obtain input materials and services, and expands their potential market. This may increase "economies of scale" in production processes, which means higher productivity through lower costs per unit of output.

Mobility management strategies, such as more efficient road pricing, can improve travel time reliability, which reduces logistics and scheduling costs beyond just the travel time savings. New transportation links between cities and ports, and new types of inter-modal facilities and services at those locations, make it possible for new patterns of international trade to develop.

Relationship to Other Benefits and Costs In all of the above examples, the benefits flow to parties that depend on transportation facilities and services for their activities. In some cases, the ultimate beneficiary is the business operation that can achieve operating cost savings or greater productivity output per unit of cost.

In the case of cargo deliveries, the beneficiaries may be senders and receivers rather than the transportation company that actually does the traveling.

Summary transport economics

It is also possible to account for many business operations and scheduling benefits, as well as logistics benefits and production economies of scale, as additions to the valuation of travel time benefits for truck trips.

Alternatively, they can be addressed separately as additional economic benefits. Finally, it is important to note that there are many broader forms of economic impacts on communities, regions and states — in which transportation facilities lead to business expansion, additional job creation and additional tax revenues.

Those economic impacts reflect a combination of the productivity benefits discussed here and broader business attraction impacts that also affect local economies. This is discussed further in the separate section on economic impact analysis. The Final Report, is available at www.

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Summary transport economics

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