While new transport needs are emerging and existing transport needs are growing, the network of China Railway is one of the most densely used in the world. Between 2000 and 2013, China Railways experienced robust rail traffic growth. The combination of rapidly growing traffic and of high...

Traditional economic evaluations of major transport infrastructure investments focus on the direct costs and benefits arising from travel, including user time savings, operator cost savings, and reductions in externalities including air pollution, noise, and accidents. There is an emerging...