J. Peirson et al., ESTIMATING THE EXTERNAL COSTS OF UK PASSENGER TRANSPORT - THE FIRST STEP TOWARDS AN EFFICIENT TRANSPORT MARKET, Environment & planning A, 27(12), 1995, pp. 1977-1993
The external costs of transport are important in the analysis of trans
port policies and projects. Such analyses require the estimation of ex
ternal costs on a consistent and appropriate basis. It is appropriate
to measure these costs at the margin, and in this paper, for the first
time, the marginal external costs for UK passenger transport are esti
mated. These costs were estimated by type and time of journey for diff
erent sectors of the UK passenger transport market. Where necessary, n
ew techniques and models were developed to estimate marginal external
costs. Otherwise, standard techniques and existing valuations were use
d. The estimates of the marginal external costs of local air pollution
and global warming are surprising low. Possible errors and omissions
are examined for these estimates.