David Metz's argument that there is little empirical evidence to support the proposition that the main benefit of improvements to transport infrastructure is the saving of travel time has been central to transport economic analysis. In the long run average travel time is conserved, implying that travellers take advantage of the benefit of improvements in the form of additional access to more distant destinations made possible by higher speeds. He introduces the concept of 'the value of access' as a promising alternative.
展开▼
