Short description:

This book takes an interdisciplinary, institutional and historically informed approach to the economics of transport, providing a comprehensive understanding of human transport choices and the related choice of location, including the formation of cities. This book would appeal to university students, researchers and policymakers.

Long description:

This book takes an interdisciplinary, institutional, and historically informed approach to the economics of transport, providing a more nuanced and complete understanding of human transport choices, individually and collectively, and the related choice of location, including the formation of cities.

The first principles of standard economic theory ? referred to here as the core model ? are systematically analysed, with a particular focus on the strengths and weaknesses of the simplifying assumptions used. The economic dynamics of modern transport systems are explored in light of theory and practice, covering such topics as the role of incentives, technological change and economic growth, and the enabling role that transport plays in productivity. Many historical and present-day examples are provided to explore the real-world nuance and subtlety that crops up repeatedly in transport activity, using additional disciplinary lenses such as planning, engineering, psychology, and sociology. Overall, the book examines the implications of the unique particularities of human beings, including the quirks of their psychologies and physical bodies, for transport planning, development, and implementation. A focus is kept on the ?real world? policy complications that arise so frequently in the transport arena.

The book, while aimed at university students, will also appeal with its holistic, thoughtful approach to researchers interested in transport, urban planning, and its effective delivery. Policy-makers and practitioners seeking a broad overview of the field beyond their specialisations will also enjoy this book.

?A compelling read, that flies through a vast range of ways that urban transport affects society and its space-time dimensions. It traces changes over time in technologies and economies to show how they have shifted roles of urban transport, viewed through an interdisciplinary lens that incorporates foundational economic theory.?

Glen Weisbrod, founder and former CEO, Economic Development Research Group, US

?A non technical approach to transport economics, enlivened by real life case studies of transport issues. Maybe a text book in name but the topics are so interestingly presented with relevant vignettes in boxes that knowledge is gained without effort.?

Corinne Mulley, Professor Emerita, University of Sydney, Australia

Table of Contents:

Table of Contents

Acknowledgements
List of Acronyms and Abbreviations
Glossary of Main Transport and Economics Terms
Useful Websites and Further Reading

Section 1: Transport economics basics

1. Introduction
2. Basic elements
3. Markets
4. Geography

Section 2: Transport Demand

5. User travel choices
6. Modes and mode choice 
7. Cost
8. Transport and the human body

Section 3: Transport supply
9. Infrastructure and vehicles
10. Finance and funding
11. Planning, management and governance
12. Operational issues

Section 3: ?System? policy issues

13. Externalities and other market failures
14. Justice, equity, disadvantage, and social exclusion
15. Economic evaluation of transport
16. Logistics, freight, and supply and value chains
17. Resilience and sustainability
18. Political economy
19. Human factors
20. Micro-mobility versus large networks and Mobility as a Service (MaaS)
21. Some conclusions above the past, present, and future

Index