Annotated Bibliography - SSTI

Title
Authors
Extending Monetary Values to Broader Performance and Impact Measures: Applications
for Transportation and Lessons from Other Fields
Glen Weisbrod, Teresa Lynch, and Michael Meyer
Sponsor
American Association of State Highway and Transportation Officials (AASHTO), NCHRP
08‐36‐61
Date August, 2008
Pages 24
Category Economic Performance Measures, Modes: All
Note
Online
Summary
http://www.edrgroup.com/attachments/‐01_Weisbrod‐Monetizing‐10Augcomplete.pdf
This paper gives examples of monetization techniques for 'hard to quantify' benefits,
including environment, health, safety, and economic development. It establishes a
means of classifying direct impacts on the system and its users, as distinct from broader
indirect effects on the population. In considering economic development, it proposes
the following indicators as indirect impacts: Change in household costs and business
costs of transport logistics; Recurring and non‐recurring delays and traffic Incidences;
Jobs created; Property tax revenues. Three case studies: Australian roads, Appalachia
economic development, and Wisconsin energy programs show how technology
transfers between road and non‐road agencies is improving the understanding of
impacts.
The authors also point out that economic development is the net effect of many
offsetting factors. Focusing only on traveler benefits and not including non‐traveler
benefits is seen as common practice due to the difficulty of measurement, the
possibilities of double counting, and not relevant to travel flow. However, they point to
policy interest in measuring indirect benefits, such as air pollution cost and economic
development benefits, and to increasing methods of measurement.
Annotated Bibliography Page 40