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The transport problem: The need for consistent policies on pricing and investment

Vickerman, Roger W. (2024) The transport problem: The need for consistent policies on pricing and investment. Transport Policy, 149 . pp. 49-58. ISSN 0967-070X. (doi:10.1016/j.tranpol.2024.02.009) (KAR id:104959)

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https://doi.org/10.1016/j.tranpol.2024.02.009

Abstract

This paper reviews the basic issues involved in identifying and providing solutions to transport problems. The paper argues that solutions focusing solely on investment in capacity or second-best solutions to pricing such as road pricing and free public transport ignore the essential economic relationships involved in transport. The paper provides a critique of investment and pricing and argues for a more integrated approach in which optimal pricing is a core consideration in any investment decisions. This is seen as particularly important in a post Covid-19 world where many of the fundamental drivers of transport demand have changed, and public authorities face significant constraints on budgets whilst new pressures such as commitments to net zero in the face of global warming threats add additional pressures. The paper offers some thoughts on the principles involved in establishing a more suitable structure for dealing with the transport problem.

Item Type: Article
DOI/Identification number: 10.1016/j.tranpol.2024.02.009
Uncontrolled keywords: investment appraisal; pricing; wider economic effects; transport policy; Covid-19 effects
Subjects: H Social Sciences > HE Transportation and Communications
Divisions: Divisions > Division of Human and Social Sciences > School of Economics
Funders: University of Kent (https://ror.org/00xkeyj56)
Depositing User: Roger Vickerman
Date Deposited: 12 Feb 2024 10:02 UTC
Last Modified: 14 Feb 2024 09:11 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/104959 (The current URI for this page, for reference purposes)

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