The last few years have seen the application of programs promoting behavioural change to more sustainable modes in Western Australia, South Australia and now Victoria. The economic appraisals of these projects have shown impressive results with double digit ratios of benefits to costs. These results, and in some cases, the absence of clarity in the benefit calculations have been greeted with scepticism by some. The development of a Travelsmart program for Melbourne has focused attention on the value for money of these programs and this paper examines their appraisal. The aims of the paper are to describe the theoretical basis underlying the valuation of program benefits and to apply a valuation methodology to a Melbourne based case study. The paper is concerned with community based programs applied to residents of the target area. It specifically highlights the problems with current approaches to the appraisal of the benefits accruing directly to program participants and proposes an alternative methodology consistent with the underlying economic theory. (Author/publisher) For the covering entry of this conference, please see ITRD abstract no. E211825.
Abstract