The ‘Hensher equation’ is a prominent method for valuing the benefits of business travel time savings. This paper derives the equation from first principles, revealing several underpinning assumptions, as follows: (I) production is a function only of labour given fixed capital; (II) the...

El Banco Interamericano de Desarrollo organizó en marzo de 1997 un "Simposio de ciudades y Foro de buenas prácticas en gestión urbana" . En él se debatieron las nuevas ideas sobre el papel de los centros urbanos en el futuro de la región, los problemas que enfrentarán al asumir este papel...

This paper examines the evidence on the forms of politics likely to promote inclusive social provisioning and enable, as opposed to constrain, improvements in service outcomes. It focuses on eight relatively successful cases of delivery in a range of country contexts and sectors (roads,...

<title>Abstract</title> Politics and governance have become central to explanations of the widespread under-provision of public services in developing countries. Political analysis offers an understanding of what might otherwise appear to be exclusively managerial or capacity problems. The articles in this...

We consider the manner in which the well-established path independence conditions apply to Small and Rosen's (1981) problem of discrete-continuous demand, focussing especially upon the restricted case of discrete choice (probabilistic) demand. We note that the consumer surplus measure promoted...

Within the broad area of probabilistic modelling of individual discrete choice, we develop three strands of discussion. First, we outline a theoretical framework for the modelling of individual discrete choice under risk, distinguishing between three specific sources of randomness; in preference...

This paper provides an extensive review and reconciliation of British and European evidence relating to the value of, and demand responses to, rail reliability. In particular, we compare the elasticities implied by stated preference valuations of late time with directly estimated lateness...