Economic Development Research Group Inc.

Federal Way, MA, United States

Economic Development Research Group Inc.

Federal Way, MA, United States

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Weisbrod G.,Economic Development Research Group Inc. | Duncan C.,Economic Development Research Group Inc.
Transportation Research Record | Year: 2016

The infrastructure planning process requires broad consideration of the benefits, costs, and impacts of proposed projects. However, planners and decision makers often are unclear about how they can best use economic analysis methods to inform decision making and how they can unsort what appear to be competing methodologies to portray the consequences of projects: benefit-cost analysis (BCA), economic impact analysis (EIA), and financial impact analysis (FIA). The result can be an inappropriate or ineffective use of economic analysis and failure to match its capabilities to the requirements of infrastructure investment planning. This paper reviews the evolving application of economic analysis techniques for transportation infrastructure investment decision making and identifies sources of confusion for analysts and decision makers. The paper introduces a new structure for the application of economic analysis in the planning process. The structure is built on a unifying framework to view the various forms of economic analysis in terms of how they differentially cover a three-dimensional universe of space, time, and economy elements. The paper shows how a structural framework can be used to match economic analysis techniques to stakeholder issues and decisions on the basis of spatial and temporal information requirements that are applicable at different stages of the planning and decision-making process. Finally, the paper provides an example of how state agencies can use this framework to bring together information from BCA, EIA, and FIA to support decisions on investment in a major transportation infrastructure project. © 2016, National Research Council. All rights reserved.


Weisbrod G.,Economic Development Research Group Inc. | Duncan C.,Economic Development Research Group Inc. | Jones Moses S.,Susan Jones Moses S Asociates
Transportation Research Record | Year: 2014

Although much literature on spatial agglomeration, public transit, and the economy has focused on broad analyses and generalized relationships, this study focuses on one specific element of the economy: the development of high-technology, knowledge-baaed industries that account for a disproportionate share of the national economic growth. The study examines how these industries are cluttering in large metropolitan areas and specific suburban and urbun locations within those metropolitan areas. This research shows how the growing levels of employment in these industries arc challenging the capacity constraints of local road networks and how leading businesses in these industrial clusters are turning to private and public transit to enable their continued growth. The evidence indicates that (a) the advantages of concentration in metropolitan areas and highly localized clustering for these specific business sectors continue to exist and (b) although public transportation Is not the cause of clustering, most high-technology business clusters are evolving so that bus und rail solutions arc supporting the clusters' continuing growth and will support their future growth.


Landau S.,Economic Development Research Group Inc. | Gosling G.D.,Aviation System Consulting LLC | Small K.,1721 West 104th Place | Adler T.,Resource Systems Group Inc.
Transportation Research Record | Year: 2016

This paper investigates how the value of airline passenger time varies by trip component and how the calculation of value of time can be related to capital investments specific to each component. Travel time is often a significant consideration in benefit-cost analysis for airport projects. The empirical results reported in this paper are based on a stated preference survey and subsequent model estimation. The survey used two conjoint exercises-one related to airport ground access and in-airport time components and a second covering attributes related to the flight itinerary. It was found that values of time differ by trip segment and travelers' trip purpose.


Gosling G.D.,Aviation System Consulting LLC | Landau S.,Economic Development Research Group Inc. | Adler T.,Resource Systems Group Inc. | Fowler M.,Resource Systems Group Inc.
Transportation Research Record | Year: 2016

Airfares are an important input to air travel demand forecasting and other analyses, but there is no readily available source of data on how airfares vary by trip purpose in any given market. This paper presents the results of an analysis of the distribution of airfares by trip purpose for U.S. domestic air trips. The analysis will be used for developing a procedure to estimate the average airfare by trip purpose in any given domestic air travel market. The analysis combines the results of a nationwide survey of air travelers who reported the details of their most recent domestic paid air trips with airfare data from the U.S. Department of Transportation's 10% airline origin and destination survey. This approach gave generic distributions of the airfare paid in any given market for business and personal trips, expressed as a ratio of the average airfare in that market for all paid trips, which can be obtained from the airline origin and destination survey data. The paper describes how the results of the analysis can be used to generate the distributions of airfares and average airfares for business and personal trips in any given market and discusses future research needed to confirm and expand the analysis results and procedure presented in the paper.

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