A model is described for determining the investment in motorway construction in a large urban area and the allocation to sub-areas within. The model is based upon the economic theory of demand (travel on motorways) and supply (construction). It has been applied to the new York metropolitan areas. Most of the motorway needs appear to be in the expanding suburban area of the region. A sensitivity analysis has also been applied to the model, By assigning a radiation of + 10% to the weights. It appears that cost of capital is the single most important factor, with value of time saved in second place. Errors in the parameters used of the model appear to be most critical in the estimation of average travel speed. Future development objectives are indicated.
Samenvatting