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TRAN5630M
Reading List for Transport & Railway Investment Appraisal

Transport Investment Appraisal, 2021/22, Semester 2
John Nellthorp
J.Nellthorp@its.leeds.ac.uk
Tutor information is taken from the Module Catalogue

The Green Book 

HM Treasury (2020), The Green Book: appraisal and evaluation in central government. London: TSO

https://www.gov.uk/government/publications/the-green-book-appraisal-and-evaluation-in-central-governent

Transport Appraisal Guidance: TAG

DfT (2020), Transport Analysis Guidance (TAG):

https://www.gov.uk/transport-analysis-guidance-webtag

including TAG Data Book (July 2020 version):

https://www.gov.uk/government/publications/tag-data-book

Core text-books / Principles of appraisal

Nellthorp J (2017) ‘The principles behind transport appraisal’, Chapter 12 in the Routledge Handbook of Transport Economics, pp.176-208. (PDF copy available on Minerva via Learning Resources).  

De Rus, G. (2010). Introduction to cost-benefit analysis: looking for reasonable shortcuts. Edward Elgar Publishing.  

Mouter, N. (2020). Standard Transport Appraisal Methods. Academic Press.   

Transport appraisal in practice

Mackie, P., Worsley, T., & Eliasson, J. (2014). Transport appraisal revisited. Research in Transportation Economics47, 3-18.

https://www.sciencedirect.com/science/article/pii/S0739885914000547?via%3Dihub

Mackie, P. and Worsley, T. (2013). International Comparisons of Transport Appraisal Practice. Overview Report

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/209530/final-overview-report.pdf

Mackie, P. and Worsley, T. (2015). Transport Policy, Appraisal and Decision-Making. RAC Foundation

https://www.racfoundation.org/assets/rac_foundation/content/downloadables/Transport_policy_appraisal_decision_making_worsley_mackie_May_2015_final_report.pdf

User Benefits: Value of time

Batley, R., Bates, J., Bliemer, M., Börjesson, M., Bourdon, J., Cabral, M. O., .. & Drivyla, E. (2019). New appraisal values of travel time saving and reliability in Great Britain. Transportation46(3), 583-621.

https://link.springer.com/article/10.1007/s11116-017-9798-7

DfT (2015b), Understanding and Valuing Impacts of Transport Investment: Values of Travel Time Savings. London: DfT.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/470998/Understanding_and_Valuing_Impacts_of_Transport_Investment.pdf

Mackie, P. Jara-Diaz, S. and Fowkes, A.S. (2001). The value of travel time savings in evaluation. Transportation Research Part E, 37, pp.91-106

https://www.sciencedirect.com/science/article/pii/S1366554500000132

Borjesson, M. and Eliasson, J. (2014). Experiences from the Swedish Value of Time study. Transportation Research Part A, 59, pp.144-158

https://www.sciencedirect.com/science/article/abs/pii/S0965856413002103

User Benefits: other valuation evidence

Wardman, M. (2014). Valuing Convenience in Public Transport: Roundtable Summary and Conclusions

https://www.itf-oecd.org/sites/default/files/docs/dp201402.pdf

Abrantes, P. and Wardman, M. (2011) Meta-analysis of UK values of travel time: an update. Transportation Research Part A, 45, pp1-17.

https://www.sciencedirect.com/science/article/abs/pii/S0965856410001242

Costs of transport infrastructure 

Flyvbjerg B, Holm MKS and Buhl SL (2003), ‘How common and how large are cost overruns in transport infrastructure projects?’, Transport Reviews, 23(1), 71-88

https://www.tandfonline.com/doi/abs/10.1080/01441640309904

Flyvbjerg, B., Skamris Holm, M. K., & Buhl, S. L. (2004). What causes cost overrun in transport infrastructure projects?. Transport reviews24(1), 3-18.

https://www.tandfonline.com/doi/full/10.1080/0144164032000080494a

Wider Economic Impacts

Venables, A., Laird, J. J., & Overman, H. G. (2014). Transport investment and economic performance: Implications for project appraisal.   

https://www.sciencedirect.com/science/article/pii/S0967070X16304863

Discount rate

Freeman, Groom and Spackman (2018) “Social Discount Rates for Cost-Benefit Analysis: A Report for HM Treasury” published on the HMT Green Book web page

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/685904/Social_Discount_Rates_for_Cost-Benefit_Analysis_A_Report_for_HM_Treasury.pdf  

High-Speed Rail (HSR)

Nash CA (2015), ‘When to invest in high speed rail’, Journal of Rail Transport Planning & Management, 5(1), 12–22.

https://www.sciencedirect.com/science/article/pii/S2210970615000037

Albalate, D., & Bel, G. (Eds.). (2016). Evaluating high-speed rail: Interdisciplinary perspectives. Taylor & Francis.   

Metz’s critique of transport appraisal

Metz, D. (2008). The myth of travel time saving. Transport reviews28(3), 321-336. (Available  also online via the Library Catalogue)

https://www.sciencedirect.com/science/article/pii/S2213624X16300876

Mackie, P., Batley, R., & Worsley, T. (2018). Valuing transport investments based on travel time savings—a response to David Metz. Case Studies on Transport Policy6(4), 638-641.

https://www.sciencedirect.com/science/article/pii/S2213624X17303152

Metz, D., 2017. Valuing transport investments based on travel time saving: Inconsistency with United Kingdom policy objectives. Case Studies on Transport Policy, 5(4), pp.716-721. 

https://www.sciencedirect.com/science/article/abs/pii/S2213624X16300876

Metz, D.A. 2004. Travel time – variable or constant? Journal of Transport Economics and Policy, 38(3), pp333-344

Metz, D., 2010. Saturation of demand for daily travel. Transport Reviews, 30(5), pp.659-674.

Examples of projects appraisal:

Crossrail

National Audit Office (2019). Completing Crossrail.

https://www.nao.org.uk/report/crossrail/

National Audit Office (2014) Crossrail, London

https://www.nao.org.uk/report/crossrail-3/

Worsley, T. (2011) The Evolution of London’s Crossrail Scheme and the Development of the Department for Transport’s Economic Appraisal. Discussion Paper 27, ITF, Paris

https://www.itf-oecd.org/sites/default/files/docs/dp201127.pdf

HS2

Oakervee (2020), Oakervee Review. London: DfT

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/870092/oakervee-review.pdf

Department for Transport (2020). Full Business Case High Speed 2 Phase One

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/879445/full-business-case-hs2-phase-one.pdf

HS2 Ltd (2017), High Speed Two Phase Two: Economic case advice for the Department for Transport.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/628526/CS866_A_HS2_Phase_2a_Economic_case.pdf

DfT (2015a), HS2 West Midlands to Crewe Strategic Outline Business Case Economic Case. London: DfT.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/480718/hs2-west-midlands-to-crewe-sobc-economic-case.pdf

NAO (2012), The completion and sale of High Speed 1. Report by the Comptroller and Auditor General, HC1834, 28 March 2012.

https://www.nao.org.uk/wp-content/uploads/2012/03/10121834.pdf

House of Lords Select Committee on Economic Affairs (2015), The Economics of High Speed 2. HL Paper 134. London: TSO.

https://publications.parliament.uk/pa/ld201415/ldselect/ldeconaf/134/134.pdf

East West Rail

DfT (2018). The case for East West Rail, Western Section Phase 2

https://www.gov.uk/government/publications/the-case-for-east-west-rail-western-section-phase-2

Borders Railway 

Transport Scotland and Ernst & Young (2012). Borders Railway Final Business Case final version 

https://www.transport.gov.scot/media/10321/ts_borders_fbc_final_version_issued.pdf   

Road appraisal examples

Note: Literature and reports from road appraisal examples are provided in lectures

Beyond current appraisal practice

Consumer vs. Citizen paradigm

Mouter, N., Van Cranenburgh, S., & Van Wee, B. (2017). Do individuals have different preferences as consumer and citizen? The trade-off between travel time and safety. Transportation research part A: policy and practice106, 333-349.

https://www.sciencedirect.com/science/article/pii/S096585641630862X

Mouter, N., Koster, P., & Dekker, T. (2019). An Introduction to Participatory Value Evaluation

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3358814

This list was last updated on 19/01/2022