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Time savings still best way to appraise projects – economists

APPRAISAL

Andrew Forster
20 August 2018
Peter Mackie (left) says many of David Metz’s (right) arguments on transport appraisal are “unsound”. But Metz says transport economists are continuing to disregard the spatial impacts of transport investments
Peter Mackie (left) says many of David Metz’s (right) arguments on transport appraisal are “unsound”. But Metz says transport economists are continuing to disregard the spatial impacts of transport investments

 

Abandoning the valuation of travel time savings in transport appraisal would be a “fundamental error”, three of the UK’s leading transport economists have said.  

The comment comes in a paper responding to David Metz, an honorary professor at the Centre for Transport Studies, University College London and a former chief scientist at the DfT. 

Metz had a paper published in the journal Case Studies on Transport Policy last summer (LTT01 Sep 17), arguing that the travel...

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