The Centre for Transport Studies is pleased to welcome
Professor Tim Hazledine (University of Auckland, New Zealand)
to lead a seminar entitled
Agglomeration Benefits from Public Transit Improvements: implementing the Venables model
to be held
Tomorrow (Wednesday 28 November 2012) – 16:00
Please join us for presentation and discussion at
Room 163, Skempton Building, Imperial College London
Maps and travel directions: http://<http://www.cts.cv.imperial.ac.uk/html/Miscellaneous/travelDirections.asp>www.cts.cv.imperial.ac.uk/html/Miscellaneous/travelDirections.asp<http://www.cts.cv.imperial.ac.uk/html/Miscellaneous/travelDirections.asp>
Abstract
In the Venables model, a lowering of commuting costs increases the supply of suburban residents willing to travel to the centre to earn the wage premium generated by agglomeration economies. Increased CBD employment generates further productivity gains, benefitting existing and new commuters. In our paper we (a) incorporate some minor but useful extensions to the Venables framework in the context of public transit improvements; (b) are able to represent the model algebraically such that it can be easily solved on a spreadsheet; (c) apply it to the case of a specific PT innovation in Auckland. We find benefits that significantly exceed those conventionally calculated on the basis of direct travel time savings.
About the Speaker
Tim Hazledine has been Professor of Economics at the University of Auckland since 1992, having previously been Professor in the Department of Agricultural Economics at the University of British Columbia. He has also taught at Queen’s Ontario, Balliol, and Warwick. His PhD is from Warwick and his earlier degrees are from the universities of Canterbury and Otago. He is a specialist in the economics of air and surface travel.
Next CTS Seminar
Dr Satoru Inoue, (a visiting researcher at CTS, Imperial College London) will be leading a seminar titled “Developing a support tool for the analysis in the wild based on distributed cognitive perspective – a case of Air traffic controllers’ work” at Imperial College London on Wednesday 05 December @ 16:00
About the CTS Seminar Series
The CTS seminar series aims to facilitate discussion on current research topics in the transport field. Seminars are held jointly with our colleagues in the Centre for Transport Studies at University College London. They are usually held on Wednesday afternoons at Imperial College London or University College London.
Seminars are free of charge and open to all interested parties. Booking is not required.
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CTS home: www.imperial.ac.uk/cts<http://www.imperial.ac.uk/cts> (Imperial College London)
www.cege.ucl.ac.uk/cts<http://www.cege.ucl.ac.uk/cts> (University College London)
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