Practices for Evaluating the Economic Impacts and Benefits of Transit (2017) / Chapter Skim
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Pages 10-17
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From page 10... ...
10 chapter two Overall FramewOrk: a review OF NatiONal research Overview This chapter develops an overall framework for defining the purposes and uses of transportation impact and benefit analysis, and for defining the appropriate analysis methods to be applied. The framework is developed by reviewing recent research and guidance documents pertaining to the application of economic analysis for public transportation facilities, services, and infrastructure investments.
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11 • Economic valuation of societal benefits = the social welfare value of priced ($) and non-priced (non-$)
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12 as enumerated earlier in Figure 1. For instance, land value impacts of improved transit service to an economically depressed neighborhood may be an important leading indicator of reinvestment coming into the area -- an effect that may have further consequences for crime, blight, and poverty reduction.
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13 those outcomes. It provides ex-post statistical analyses of outcomes relative to control locations and background regional development trends.
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14 covered here because there is public policy interest in strategies that can reduce dependence on social services and enhance the well-being of residents. • Embarq.
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15 • Reports #3–5 focus on the lasting, long-term economic growth effects and hence are classified as economic development impact reports. Accordingly, they all cover long-term effects of travel cost savings (column B)
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16 The matter of confusion regarding economic impact versus benefit is derived from the concept that technical economists have chosen to assign some commonly used words to narrower jargon meanings within their academic discipline. That is common practice and it serves a useful purpose for teaching theory and practice.
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From page 17... ...
17 accepted in public discussion and has led to interest in studies that avoid BCA and instead use MAE to enumerate the various facets of benefits for various parties without adding them up (since they affect different parties)
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