Integral Cost-Benefit Analysis of Maglev Rail Projects Under Market Imperfections

J. Paul Elhorst; Jan Oosterhaven

doi:10.5198/jtlu.v1i1.12

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Published

2008-07-11

Issue

Vol. 1 No. 1 (2008)

Section

Articles

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How to Cite

Elhorst, J. P., & Oosterhaven, J. (2008). Integral Cost-Benefit Analysis of Maglev Rail Projects Under Market Imperfections. Journal of Transport and Land Use, 1(1). https://doi.org/10.5198/jtlu.v1i1.12

Integral Cost-Benefit Analysis of Maglev Rail Projects Under Market Imperfections

J. Paul Elhorst

Department of Economics, University of Groningen, The Netherlands

Jan Oosterhaven

Department of Economics, University of Groningen, The Netherlands

DOI: https://doi.org/10.5198/jtlu.v1i1.12

Keywords: Magnetic levitation, cost-benefit analysis, market imperfections, The Netherlands

Abstract

This article evaluates a new mode of high speed ground transportation, the magnetic levitation rail system (Maglev). The outcomes of this evaluation provide policy information on the interregional redistribution of employment and population and the national welfare improvement of two Dutch urban-conglomeration and two Dutch core-periphery projects. This article also compares the results of an integral cost- benefit analysis with those of a conventional cost-benefit analysis and concludes that the additional economic benefits due to market imperfections vary from –1% to +38% of the direct transport benefits, depending on the type of regions connected and the general condition of the economy.

Author Biographies

J. Paul Elhorst, Department of Economics, University of Groningen, The Netherlands

associate professor in spatial economics

Jan Oosterhaven, Department of Economics, University of Groningen, The Netherlands

Professor of Spatial Economics