Integrating Travel Demand Model and Benefit–Cost Analysis for Evaluation of New Capacity Highway Projects

2011 ◽  
Vol 2244 (1) ◽  
pp. 34-40 ◽  
Author(s):  
Meiwu An ◽  
Craig Casper
Keyword(s):  
Cost Analysis ◽  
Travel Demand ◽  
Demand Model ◽  
Highway Projects ◽  
Benefit Cost Analysis ◽  
Benefit Cost ◽  
Travel Demand Model

Using STEAM for Benefit-Cost Analysis of Transportation Alternatives

1998 ◽  
Vol 1649 (1) ◽  
pp. 63-71 ◽  
Author(s):  
Patrick Decorla-Souza ◽  
Harry Cohen ◽  
Dan Haling ◽  
James Hunt
Keyword(s):  
Cost Analysis ◽  
Travel Demand ◽  
Demand Management ◽  
Decision Makers ◽  
Pollutant Emissions ◽  
Travel Demand Management ◽  
Benefit Cost Analysis ◽  
Wide Range ◽  
Surface Transportation ◽  
Benefit Cost

The Intermodal Surface Transportation Efficiency Act emphasizes assessment of multimodal alternatives and demand management strategies. This emphasis has increased the need for planners to provide good comparative information to decision makers with regard to proposed alternative transportation solutions. Benefit-cost analysis is a useful tool to compare the economic worth of alternatives and evaluate tradeoffs between economic benefits and nonmonetizable social and environmental impacts. FHWA has developed a new tool for benefit-cost analysis called the Surface Transportation Efficiency Analysis Model (STEAM). The software is based on the principles of economic analysis and allows development of monetized impact estimates for a wide range of transportation investments and policies, including major capital projects, pricing, and travel demand management. Impact measures are monetized to the extent feasible, and quantitative estimates of natural resource usage (e.g., energy consumption) and environmental impact (e.g., pollutant emissions) are also provided. Decision makers can then use net monetary benefits (or costs) of alternatives as computed by STEAM to evaluate tradeoffs against nonmonetizable impacts. The software was applied in evaluation of corridor alternatives for the Central Freeway corridor in the hypothetical urban area of Any City, U.S.A.

Major Corridor Investment-Benefit Analysis System

2000 ◽  
Vol 1732 (1) ◽  
pp. 92-98 ◽  
Author(s):  
John G. Kaliski ◽  
Stephen C. Smith ◽  
Glen E. Weisbrod
Keyword(s):  
Travel Demand ◽  
Benefit Analysis ◽  
Demand Model ◽  
Analysis Model ◽  
Conceptual Approach ◽  
Benefit Cost Analysis ◽  
Travel Time Savings ◽  
Analysis System ◽  
Benefit Cost ◽  
The Impact

The major corridor investment-benefit analysis system recently developed for the Indiana Department of Transportation (INDOT) is discussed. The purpose of the system is to provide an analytical tool for use by INDOT in evaluating and comparing the impacts of major corridor highway investments in the state. The system combines a statewide travel demand model, a user benefit-cost analysis model, and a regional econometric model. The conceptual approach behind the model is described, and the results from an application of the model to analyze the transportation and economic impacts of the upgrade of US-31 between Indianapolis and South Bend, Indiana, to Interstate level of service is presented. Issues addressed by the model include the impact of travel time savings and other user benefits on business users of the highway, as well as the potential for the study corridor to attract new businesses or tourists as a result of improved access to markets.

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