Linking transport models to economic benefits

This paper examines relationships between transport models and economic benefits. Emerging research casts serious doubt on the strength of the causal links between travel-time savings and economic benefits. It is argued that travel-time savings are relatively transient, with the long term value of transport investments defined by their impacts on overall accessibility. The merits of using travel time as an indicator of economic benefits are further undermined by a number of other technical issues, which are also discussed in this paper. This paper presents research on the links between land values and transport infrastructure in Auckland, New Zealand. An econometric regression model was developed using data from actual property transactions, census data, and GIS analysis. Further research is required to extend and refine the model before it can be used to assess the economic benefits of transport investment. (a) For the covering entry of this conference, please see ITRD abstract no. E219560.