Recent advances in the scientific understanding of urban traffic congestion have only strengthened the already solid case for congestion charges as an element of a successful urban transport policy. But examples of real-world congestion charging systems remain few and far between. What can be...

Cost-benefit analysis (CBA) is indispensable for making good decisions on what transport projects to fund. It essentially aims to figure out which projects offer the best value for money. However, the practical relevance of CBA does not always live up to its appeal in principle. One problem is...

This report sets out several of the recent advances, and suggests the most promising approaches, to the quantification and valuation of some of the wider economic benefits that flow from transport-related development. Economic appraisal can offer decision-makers important insights into the...

This paper starts from the premise that the scope of the appraisal of transport projects should depend upon the presence (or absence) of various forms of market failure. It reviews the purposes and processes of transport appraisal before setting out a typology of market failures. Then it...