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transport improvement interventions and to maintain credibility of TDM strategies and funding sustainability.

The cost benefit analysis is based on a method that assesses changes in perceived costs

which

includes

resource

cost

corrections.

The

general

assumption

is

that

travelers

perceive only the direct costs related to a given transportation choice. These usually include out of pocket costs such as fuel, parking charges, and public transit Fully perceived costs include the value of time (transit and waiting) and externalities.

costs fares. other

The Transfund approach argues that in many cases the out-of-pocket costs do not fully account for the resource costs, hence resource cost corrections are needed. The resource cost corrections included in the assessment expand the range of out of pocket costs to include those initially unperceived costs uncovered to the user as a results of a TDM strategy. The framework takes into account the following benefits:

  • A.

    Resource benefits to people already using the mode which is improved (generalized cost change for that mode); this is especially important when studying the effect of transit improvements;

  • B.

    Perceived benefits to mode switchers (people changing behavior);

  • C.

    Benefits from avoidance of unperceived costs associated with previous behavior of switchers, comprising:

      • 1.

        Resource cost adjustments for switchers themselves; including monetary

        • (e.

          g., non-fuel variable vehicle operating costs) and non-monetary (e.g., accident trauma); and,

      • 2.

        Other resource cost impacts (externalities) on other transport system users or of the transport system (e.g., decongestion, environmental, and accident externalities).

  • D.

    Unperceived costs associated with new behavior of switchers, comprising:

    • i.

      Resource cost adjustments for switchers themselves; including monetary

        • (e.

          g., public transport fare payments) and non-monetary (e.g., health benefits of cycling and walking); and,

    • ii.

      Other resource cost impacts (externalities) on other transport system users or on the transport system, e.g., environmental, accident, and health externalities (to the extent that costs of diminishing health were being incurred by society as a whole rather than the behavior changer individually).

Benefits of Type A are determined by changes in generalized costs (including time and comfort) to the existing users.

Benefits of Type B are the most relevant in evaluating the impact of TDM strategies that influence the existing cost differentials among available modes. These strategies include

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