Study on the Application of CVM in the Social Benefits Valuation of Urban Mass Transit

Jing Chen

doi:10.4028/www.scientific.net/AMR.734-737.1625

Paper Titles

Application of Catastrophe Theory in Traffic Flow of Highway Tunnel Group
p.1609

Efficiency Rating of Vision in Terms of Prevention of Road Accidents at Work
p.1613

Research on the Real Options in Investment Decision of Waterway Infrastructure Construction
p.1617

Study on Development Pattern of Public Transportation in Fuzhou City
p.1621

Study on the Application of CVM in the Social Benefits Valuation of Urban Mass Transit
p.1625

Study on Urban Emergency Event Forecast - Taking Urban Traffic Accident in China as Example
p.1629

The Research on Local Transport of Goods which by the Means of City Subway
p.1637

The Role and Development Prospects of the Ropeway in Urban Transport System
p.1641

The Logistics Risk Assessment Studies of the Large Equipment of Hydropower Project Based on Three-Dimensional Structure
p.1647

HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 734-737Study on the Application of CVM in the Social...

Study on the Application of CVM in the Social Benefits Valuation of Urban Mass Transit

Abstract:

The total social benefits of urban mass transit consist of determined and undetermined benefits. Traditional methods of market valuation can be used to assess the determined benefits, including savings in parking costs, energy conservation etc. However, the undetermined benefits, such as increased economic productivity as a result of improved mobility, are difficult to be estimated by using the traditional methods. The Contingent Valuation Method (CVM) represents a more encompassing alternative that can capture both determined and undetermined benefits. CVM is applied to valuate the social benefits of Shanghai's urban mass transit. The valuation result shows that the social benefits brought by urban mass transit system in the city of Shanghai are about 70.774-99.461 billion RMB per year. Meanwhile, the result is tested with the econometrics method. This study indicates that CVM can overcome the shortcomings of the traditional market valuation method. Furthermore, CVM provides a scientific way to evaluate the total social benefits of urban mass transit.

You might also be interested in these eBooks

View Preview

Info:

Periodical:

Advanced Materials Research (Volumes 734-737)

Pages:

1625-1628

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.734-737.1625

Citation:

Cite this paper

Online since:

August 2013

Authors:

Jing Chen*

Keywords:

CVM, Social Benefits, Urban Mass Transit, Valuation

Export:

RIS, BibTeX

Price:

Permissions:

Request Permissions

* - Corresponding Author

References

[1] Shixun Chen, Xiaoma Tao: Estimative Analysis of the Social Benefit of Shanghai UMT System. Urban Mass Transit. Vol.1(2004),pp.1-5 (In Chinese)

Google Scholar

[2] Zuo Chen: The Impact of Urban Transit on Ecological Environment. China Railway Science. Vol.6(2001), pp.126-132 (In Chinese)

Google Scholar

[3] Wenping Gong, Kading Liu: Analysis of the Benefit in Urban Mass Transit Construction of Shenzhen. Urban Mass Transit. Vol.5(2003), pp.62-65 (In Chinese)

Google Scholar

[4] B.L. John, G.C. Armando: A willingness-to-pay function for protecting acres of spotted owl habited from fire. Ecological Economics. Vol.25(1998), pp.315-322

DOI: 10.1016/s0921-8009(97)00044-x

Google Scholar

[5] P.B. Robert, K.B. Alok, J.S. Alok: A joint investigation of public support and public values: case of in stream flows in New Mexico. Ecological Economics. Vol.27(1998), pp.193-195

Google Scholar

[6] J.B. Loomis, R.G. Walsh: Economic Decision, Comparing Benefits and Costs (second edition). Venture Publishing, Inc., State College, Pennsylvania (1997)

Google Scholar

[7] W.M. Hanemann, B. Kanninen: The Statistical Analysis of Discrete-response CV Data.No.768.Department of Agricultural and Resource Economics, University of California at Berkeley. (1996), pp.1-96

Google Scholar

[8] C. K. Lee, S. Y. Han: Estimating the use and preservation values of national parks, tourism resources using a contingent valuation method. Tourism Management. Vol.23(2002), pp.531-540

DOI: 10.1016/s0261-5177(02)00010-9

Google Scholar

[9] J.W. Vaughan, C.S. Russell, D.J. Rodriguez: Willingness to pay: referendum contingent valuation and uncertain project benefits, environment division. Inter-American Development Bank, Washington DC (1999)

Google Scholar