The transport system is fundamental for the functioning of modern societies. The accessibility to workplaces, suppliers and services it brings is a cornerstone for all sectors in the economy and for the daily lives and welfare of all citizens. On the other hand, transportation also generates negative effects such as emissions, accidents and noise. Huge sums of public money are spent on infrastructure and public transport provision. Still, these sums are dwarfed by the enormous resources of time and money spent by private and corporate users on transportation. Research in Transport economics concerns how, in a broad sense, to balance and design the transport system and public transport provisions, to optimize welfare given the conflicting objectives and effects. Here transport pricing and investments, industrial organization and resource allocation are all central.
This talk is an introduction to Transport Economics, which is a branch in Economics, and how it relates to environmental, social and economic sustainability. The transport sector is characterized by market failures, externalities and decreasing returns to scale, which is why public decision-making is central. Because public decision-making is so central, and because most public interventions in the transport system are non-reversible, prediction of transport demand and econometrics are also essential. Hence, transport economics is closely linked to engineering and physics, but also to psychology and human behaviour. For instance, Professor Daniel Mc Fadden (B.S. Physics) received the Nobel Memorial Prize in Economic Sciences in 2000 "for his development of theory and methods for analyzing discrete choice". Mc Fadden’s work on behavioural forecasting used applications in transport analysis.
Photo of Maria Börjesson: © FOTOGRAF CAMILLA CHERRY
PJ lecture hall, Origo building 4th floor, Kemigården 1
21 April, 2017, 12:15
21 April, 2017, 12:45