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- W627335775 abstract "The impact of road transport and road transport infrastructure on the environment is animportant public issue in the United Kingdom today. Economists have suggested thatthe present Trunk Road appraisal process undervalues the environmental impact of roadschemes because environmental impacts are not included in the monetary cost-benefitprocess, i.e. they are externalised. Furthermore, critics state that the present evaluationprocess is complicated by the number and type of qualitative and quantitative measuresof environmental impact, this leads to confusion and non-standardisation in thedecision-making process. In answer to these criticisms it has been suggested thatmonetary values of environmental impacts should be incorporated into the Trunk Roadappraisal process, i.e. placing environmental benefits or losses into the cost-benefitframework and hence simplifying the decision-making process.This research identified the present methods of monetary valuation, and showed thatthese have insufficient institutional or public acceptability to be used for the purpose ofmonetary valuation in this case. This research therefore examined a new methodologyfor placing values on environmental impacts. i.e. Stated Preference (SP) techniques. SPdetermines implicit valuations by asking people to trade-off between a number ofdifferent choice situations. SP techniques are widely used throughout the transportindustry for placing monetary values on factors such as journey time and ride quality.The research was successful in gaining statistically significant monetary values for RoadSafety and Air Quality and respondents were able to understand the SP experiments andto trade logically between choice scenarios. However, the research identified thatparticular care is required when measuring and representing environmental attributesand attribute levels to respondents, as these impact on the valuations gained. Furtherresearch is also required to define the reasons for significant variation within theresponse data. The reasons for this variation need to be investigated further so thatsignificant valuations can be obtained that relate to the whole population." @default.
- W627335775 created "2016-06-24" @default.
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- W627335775 date "1998-09-01" @default.
- W627335775 modified "2023-09-23" @default.
- W627335775 title "Monetary valuation of the environmental impacts of road transport : a stated preference approach" @default.
- W627335775 hasPublicationYear "1998" @default.
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