This comprehensively revised and updated new edition of the leading text in the field provides full coverage of the historical, political and European context of British transport policy, of the new financial and regulatory regimes of the Twenty-first century and of the impact of such major new initiatives as London's congestion charge.

This second edition covers all the main problems that arise in a typical cost-benefit exercise. It is entirely up to date, reflecting the most recent research in the area. Part One covers the main theoretical issues affecting cost-benefit analysis. Part Two considers the problem of ascribing a monetary value to things. The third part covers six separate case studies drawn from real-life examples. The book begins with an extended elementary introduction written by the editors.

Transport Economics introduces students to the key areas of the transport sector, combining lucid explanation of theory with detailed case studies from across the European Union. The book applies microeconomic theory and is aimed at students taking their first course in the subject.