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  5. European Transport / Trasporti Europei (2007) 36/XII
  6. On the change in surpluses equivalence: measuring benefits from transport infrastructure investments
 
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On the change in surpluses equivalence: measuring benefits from transport infrastructure investments

Meléndez-Hidalgo, José
•
Rietveld, Piet
•
Verhoef, Erik
2007
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ISSN
1825-3997
http://hdl.handle.net/10077/5953
  • Article

Abstract
Reductions in transport costs resulting from infrastructure improvements generate benefits that can be measured as surplus changes either at an economy-wide scale (social welfare changes) or, as is common practice in cost-benefit analysis (CBA), at a transport market level as transport users’ surplus changes. In this paper we look at an economy with spatially separated markets embedded in a transport network (a spatial price equilibrium model) to study the equivalence between these two benefit measures. Three different product market competition arrangements are considered. A similar question and strategy is presented in Jara-Díaz (1986) employing a two-node network and extreme competition assumptions on the production side: perfect competition and monopolistic production with arbitrage. We extend his work by additionally considering perfect collusion (monopoly without resale) and Cournot-Nash oligopoly under flow-dependent transport costs (i.e. congestion in transport). Numerical simulations in a three-node network with and without transshipment nodes, illustrate our main results.
Series
European Transport / Trasporti Europei
XII (2007) 36
Subjects
  • Cost-benefit analysis...

  • Indirect benefits

Publisher
EUT Edizioni Università di Trieste
ISTIEE Istituto per lo studio dei trasporti nell’integrazione economica europea
Source
José Meléndez-Hidalgo, Piet Rietveld, Erik Verhoef, "On the change in surpluses equivalence: measuring benefits from transport infrastructure investments", in: European Transport / Trasporti Europei, XII (2007) 36, pp. 107-140.
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