Roads Economic Decision Model (RED) Economic Evaluation of Low Volume Roads
This note presents the Roads Economic Decision Model (RED) that performs an economic evaluation of road investments, and maintenance options, customized to the characteristics of low-volume roads, such as: high uncertainty of the assessment of traf...
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2012
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| Online Access: | http://documents.worldbank.org/curated/en/2001/03/1089586/roads-economic-decision-model-red-economic-evaluation-low-volume-roads http://hdl.handle.net/10986/9820 |
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okr-10986-98202021-04-23T14:02:47Z Roads Economic Decision Model (RED) Economic Evaluation of Low Volume Roads Archondo-Callao, Rodrigo S. ACCIDENT ACCIDENT RATES ACCIDENTS AVERAGE COSTS CONSUMER SURPLUS CONSUMERS DISCOUNT RATE DRIVING EQUATIONS FATALITIES GENERATED TRAFFIC GOAL GRAVEL GROWTH RATE HIGHWAY HIGHWAY DESIGN HIGHWAYS INJURIES INTERNAL RATE OF RETURN LANE ROAD LOW VOLUME ROADS MOTORIZED ROAD USERS MULTIPLIERS NET BENEFITS NET PRESENT VALUE NORMAL TRAFFIC PASSENGER PRICE ELASTICITY REFERENCE ROAD ROAD DETERIORATION ROAD INVESTMENTS ROAD MANAGEMENT ROAD USER ROAD USER COSTS ROAD USERS ROADS ROUGHNESS ROUTES RURAL ROADS SAFETY SAFETY BENEFITS SPEED TERRAIN TRAFFIC TRAFFIC TRANSPORT TRAVEL TIMES TRIP TRIPS UNPAVED ROADS VALUE ADDED VEHICLE VEHICLE OPERATING COSTS VEHICLE SAFETY VEHICLES ROADS ECONOMIC ASPECTS ECONOMIC MODELS ROAD MAINTENANCE & REPAIR INVESTMENTS LOW-VOLUME ROADS TRAFFIC FLOW ROAD CONDITIONS SERVICE QUALITY ROAD DETERIORATION ROAD ESTIMATES & COSTS ECONOMIC DEVELOPMENT BENEFICIARY ASSESSMENT TRANSPORT COSTS PRICE ELASTICITY DEMAND-DRIVEN RISK EVALUATION This note presents the Roads Economic Decision Model (RED) that performs an economic evaluation of road investments, and maintenance options, customized to the characteristics of low-volume roads, such as: high uncertainty of the assessment of traffic, road condition, and future maintenance of unpaved roads; periods with pass disruptions; levels of service, and corresponding road user costs defined not only through roughness; high potential to influence economic development; and, beneficiaries, other than motorized road users. The model computes benefits accruing to normal, generated, and diverted traffic, as a function of a reduction in vehicle operating, and time costs, and, adopts the consumer surplus approach, which measures the benefits of road users, and consumers of reduced transport costs. RED addresses, among others, the following additional concerns: reduce input requirements for low-volume roads; consider the higher uncertainty, related to input requirements; compute internally the traffic generated due to decreased transport costs, based on a defined price elasticity of demand; and, quantify the economic costs, associated with the days per year when the passage of vehicles is further disrupted by a highly deteriorated road condition. Particularly, the model highlights all input assumptions, and comprehensively integrates them with sensitivity, switching values, and stochastic risk analysis. 2012-08-13T09:37:23Z 2012-08-13T09:37:23Z 2001-03 http://documents.worldbank.org/curated/en/2001/03/1089586/roads-economic-decision-model-red-economic-evaluation-low-volume-roads http://hdl.handle.net/10986/9820 English Africa Region Findings & Good Practice Infobriefs; No. 179 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Brief Publications & Research Africa |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCIDENT ACCIDENT RATES ACCIDENTS AVERAGE COSTS CONSUMER SURPLUS CONSUMERS DISCOUNT RATE DRIVING EQUATIONS FATALITIES GENERATED TRAFFIC GOAL GRAVEL GROWTH RATE HIGHWAY HIGHWAY DESIGN HIGHWAYS INJURIES INTERNAL RATE OF RETURN LANE ROAD LOW VOLUME ROADS MOTORIZED ROAD USERS MULTIPLIERS NET BENEFITS NET PRESENT VALUE NORMAL TRAFFIC PASSENGER PRICE ELASTICITY REFERENCE ROAD ROAD DETERIORATION ROAD INVESTMENTS ROAD MANAGEMENT ROAD USER ROAD USER COSTS ROAD USERS ROADS ROUGHNESS ROUTES RURAL ROADS SAFETY SAFETY BENEFITS SPEED TERRAIN TRAFFIC TRAFFIC TRANSPORT TRAVEL TIMES TRIP TRIPS UNPAVED ROADS VALUE ADDED VEHICLE VEHICLE OPERATING COSTS VEHICLE SAFETY VEHICLES ROADS ECONOMIC ASPECTS ECONOMIC MODELS ROAD MAINTENANCE & REPAIR INVESTMENTS LOW-VOLUME ROADS TRAFFIC FLOW ROAD CONDITIONS SERVICE QUALITY ROAD DETERIORATION ROAD ESTIMATES & COSTS ECONOMIC DEVELOPMENT BENEFICIARY ASSESSMENT TRANSPORT COSTS PRICE ELASTICITY DEMAND-DRIVEN RISK EVALUATION |
| spellingShingle |
ACCIDENT ACCIDENT RATES ACCIDENTS AVERAGE COSTS CONSUMER SURPLUS CONSUMERS DISCOUNT RATE DRIVING EQUATIONS FATALITIES GENERATED TRAFFIC GOAL GRAVEL GROWTH RATE HIGHWAY HIGHWAY DESIGN HIGHWAYS INJURIES INTERNAL RATE OF RETURN LANE ROAD LOW VOLUME ROADS MOTORIZED ROAD USERS MULTIPLIERS NET BENEFITS NET PRESENT VALUE NORMAL TRAFFIC PASSENGER PRICE ELASTICITY REFERENCE ROAD ROAD DETERIORATION ROAD INVESTMENTS ROAD MANAGEMENT ROAD USER ROAD USER COSTS ROAD USERS ROADS ROUGHNESS ROUTES RURAL ROADS SAFETY SAFETY BENEFITS SPEED TERRAIN TRAFFIC TRAFFIC TRANSPORT TRAVEL TIMES TRIP TRIPS UNPAVED ROADS VALUE ADDED VEHICLE VEHICLE OPERATING COSTS VEHICLE SAFETY VEHICLES ROADS ECONOMIC ASPECTS ECONOMIC MODELS ROAD MAINTENANCE & REPAIR INVESTMENTS LOW-VOLUME ROADS TRAFFIC FLOW ROAD CONDITIONS SERVICE QUALITY ROAD DETERIORATION ROAD ESTIMATES & COSTS ECONOMIC DEVELOPMENT BENEFICIARY ASSESSMENT TRANSPORT COSTS PRICE ELASTICITY DEMAND-DRIVEN RISK EVALUATION Archondo-Callao, Rodrigo S. Roads Economic Decision Model (RED) Economic Evaluation of Low Volume Roads |
| geographic_facet |
Africa |
| relation |
Africa Region Findings & Good Practice Infobriefs; No. 179 |
| description |
This note presents the Roads Economic
Decision Model (RED) that performs an economic evaluation of
road investments, and maintenance options, customized to the
characteristics of low-volume roads, such as: high
uncertainty of the assessment of traffic, road condition,
and future maintenance of unpaved roads; periods with pass
disruptions; levels of service, and corresponding road user
costs defined not only through roughness; high potential to
influence economic development; and, beneficiaries, other
than motorized road users. The model computes benefits
accruing to normal, generated, and diverted traffic, as a
function of a reduction in vehicle operating, and time
costs, and, adopts the consumer surplus approach, which
measures the benefits of road users, and consumers of
reduced transport costs. RED addresses, among others, the
following additional concerns: reduce input requirements for
low-volume roads; consider the higher uncertainty, related
to input requirements; compute internally the traffic
generated due to decreased transport costs, based on a
defined price elasticity of demand; and, quantify the
economic costs, associated with the days per year when the
passage of vehicles is further disrupted by a highly
deteriorated road condition. Particularly, the model
highlights all input assumptions, and comprehensively
integrates them with sensitivity, switching values, and
stochastic risk analysis. |
| format |
Publications & Research :: Brief |
| author |
Archondo-Callao, Rodrigo S. |
| author_facet |
Archondo-Callao, Rodrigo S. |
| author_sort |
Archondo-Callao, Rodrigo S. |
| title |
Roads Economic Decision Model (RED) Economic Evaluation of Low Volume Roads |
| title_short |
Roads Economic Decision Model (RED) Economic Evaluation of Low Volume Roads |
| title_full |
Roads Economic Decision Model (RED) Economic Evaluation of Low Volume Roads |
| title_fullStr |
Roads Economic Decision Model (RED) Economic Evaluation of Low Volume Roads |
| title_full_unstemmed |
Roads Economic Decision Model (RED) Economic Evaluation of Low Volume Roads |
| title_sort |
roads economic decision model (red) economic evaluation of low volume roads |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2001/03/1089586/roads-economic-decision-model-red-economic-evaluation-low-volume-roads http://hdl.handle.net/10986/9820 |
| _version_ |
1764410784680509440 |