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Quantifying the Socio-economic Benefits of Transport

This report sets out several of the recent advances to the quantification and valuation of economic benefits of transport and points to the most promising approaches. The sophistication of modern supply chains and the growing prominence of the services sector have increased the interest of decision-makers in economic benefits beyond those traditionally captured in transport appraisal. Recent advances in assessment methodologies, and their application in decision-making procedures, make it useful to review the state of the art in two areas in particular: reliability benefits and wider economic benefits that flow from transport-related development.