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Economics / Appraisal / BCR, Satellite navigation / Travel software / Modelling, All of UK
Time savings clash in debate on appraisal quality
Climaxing the Modelling World conference, urban and regional policy specialist Alan Wenban-Smith and Chris Riley, an associate with economic consultancy Oxera, clashed over the future of transport appraisals. Urging radical change, Wenban-Smith said current practice is “not fit for purpose”.
“It does not work in detail, depends on time savings as proxy for welfare and causes huge discrepancies with direct measures of welfare. Nor does it work at a strategic level, with...