Transport has remained high on the British political agenda as gridlock on the roads and the aftershocks of rail privatization have forced continual modifications and developments in the approach of the Labour government, which came to office in 1997, and pledged to establish an integrated transport policy. This comprehensively revised and updated new edition of the leading text in the field provides full coverage of the historical, political and European context of British transport policy, of the new financial and regulatory regimes of the Twenty-first century and of the impact of such major new initiatives as London's congestion charge.

This second edition covers all the main problems that arise in a typical cost-benefit exercise. It is entirely up to date, reflecting the most recent research in the area. Part One covers the main theoretical issues affecting cost-benefit analysis. Part Two considers the problem of ascribing a monetary value to things. The third part covers six separate case studies drawn from real-life examples. The book begins with an extended elementary introduction written by the editors.

The only significant road pricing scheme in the UK is that introduced by Ken Livingstone in London. But the technology now exists to develop a nationwide scheme of road user charging, with prices to road users varying with the level of congestion in a given area at a given time. The only obstacles to implementing road user charging would seem to be political. Stephen Glaister and Daniel Graham have used sophisticated geographical and economic modelling to examine the potential effects of different types of road user charging schemes. The results of the modelling are explained lucidly and clearly. Using the results of the authors' models, policymakers should be able to find an approach which is acceptable given the practical realities they face. The authors also look carefully at the implications of road user charging and identify other policy areas that policymakers would need to consider.

This examination of transport economics brings alive economic theories for students, elucidating traditional concepts by applying them to a real world context. It examines the microeconomic concepts that underpin this sector and the implications for transport markets with real examples from across the EU. Also available is a companion website with extra features to accompany the text, please take a look by clicking below - http://www.palgrave.com/economics/transport/Home.aspx

This examination of transport economics brings alive economic theories for students, elucidating traditional concepts by applying them to a real world context. It examines the microeconomic concepts that underpin this sector and the implications for transport markets with real examples from across the EU. Also available is a companion website with extra features to accompany the text, please take a look by clicking below - http://www.palgrave.com/economics/transport/Home.aspx