Economic Valuation of Development Projects : A Case Study of a Non-Motorized Transport Project in India
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One of the major difficulties in doing
cost-benefit analysis of a development project is to
estimate the total economic value of project benefits, which
are usually multi-dimensional and include goods and services
that are not traded in the market. Challenges also arise in
aggregating the values of different benefits, which may not
be mutually exclusive. This paper uses a contingent
valuation approach to estimate the economic value of a
non-motorized transport project in Pune, India, across
beneficiaries. The heads of households which are potentially
affected by the project are presented with a detailed
description of the project, and then are asked to vote on
whether such a project should be undertaken given different
specifications of costs to the households. The total value
of the project is then derived from the survey answers.
Econometric analysis indicates that the survey responses
provide generally reasonable valuation estimates.
Palabras clave
ACCIDENT RISKS, ACCIDENTS, AIR, AIR POLLUTION, AIR QUALITY, AIR QUALITY IMPROVEMENTS, AIRCRAFT, AIRCRAFT NOISE, AIRPORT, AIRPORT EXPANSION, AUTO INDUSTRY, BENCHMARK, BICYCLES, BUS, BUSES, CAPACITY BUILDING, CARS, CONDITIONS FOR PEDESTRIANS, CONGESTION, CONSTRUCTION, CONTINGENT VALUATION, COST-BENEFIT ANALYSES, COST-BENEFIT ANALYSIS, CROSSWALK, CYCLE TRACKS, CYCLING, CYCLISTS, DESCRIPTION, DEVELOPMENT PROJECTS, DICHOTOMOUS CHOICE, DRIVING, DRIVING COSTS, ECOLOGICAL ECONOMICS, ECONOMETRIC ANALYSES, ECONOMETRIC ANALYSIS, ECONOMIC CONDITIONS, ECONOMIC STATISTICS, ECONOMIC THEORIES, ECONOMIC VALUE, ELASTICITIES, ENVIRONMENTAL, ENVIRONMENTAL ECONOMICS, ENVIRONMENTAL PROTECTION, ENVIRONMENTAL PROTECTION AGENCY, ENVIRONMENTAL QUALITY, ENVIRONMENTAL SCIENCES, EQUALITY, EQUATIONS, EXPENDITURES, FEEDER ROADS, FEMALE, FOOTPATHS, FRAMEWORK, FUEL, FUEL EFFICIENCY, GENDER, HIGHWAY, HOUSEHOLDS, ILLEGAL PARKING, INCENTIVE EFFECTS, INCOME, INCOME EFFECT, INCOME LEVELS, LABOR FORCE, LAND ECONOMICS, LANES, MARKET PRICES, MAXIMUM LIKELIHOOD ESTIMATION, MOTOR VEHICLE, MOTOR VEHICLE USERS, MOTORISTS, NMT, NONMOTORIZED TRANSPORT, NORMAL GOOD, PAVEMENT, PAVEMENTS, PAVING, PEAK HOURS, PEDESTRIAN, POLLUTION, POPULATION DENSITY, PUBLIC TRANSIT, PUBLIC TRANSPORT, PUBLIC TRANSPORT SYSTEM, PUBLIC TRANSPORTATION, RAPID TRANSIT, RIGHT OF WAY, ROAD, ROAD CONDITIONS, ROAD CONGESTION, ROAD CONSTRUCTION, ROAD MARKINGS, ROAD NETWORK, ROAD PRICING, ROAD SPACE, ROAD SURFACE, ROADS, ROADWAY, ROADWAYS, RURAL TRANSIT, SAFETY, SHARING, SIGNAGE, SIGNS, SLUM, STOPPING DISTANCE, STREETS, STRICTER ENFORCEMENT, TECHNICAL ASSISTANCE, TOTAL ECONOMIC VALUE, TRAFFIC, TRAFFIC ACCIDENT, TRAFFIC CONGESTION, TRAFFIC CONTROL, TRAFFIC SIGNALS, TRAFFIC SITUATION, TRANSPORT, TRANSPORT ECONOMICS, TRANSPORT ECONOMISTS, TRANSPORT INFRASTRUCTURE, TRANSPORT MODES, TRANSPORT PROJECTS, TRANSPORT SECTOR, TRANSPORT SERVICE, TRANSPORT SYSTEM, TRANSPORTATION, TRANSPORTATION COST, TRANSPORTATION IMPROVEMENT, TRANSPORTATION INFRASTRUCTURE, TRANSPORTATION PROBLEMS, TRANSPORTATION RESEARCH, TRANSPORTATION SYSTEM, TRIPS, TRUE, UNDERPASSES, URBAN DEVELOPMENT, URBAN SPRAWL, URBAN TRANSPORT, VEHICLE, VEHICLE EMISSION, VEHICLE NOISE, VEHICLES, WALKING, WALKING DISTANCE, WILLINGNESS TO PAY, WTP