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on Transport Economics |
| By: | Makino, Keita; Compostella, Junia; Lee, Yongsung; Circella, Giovanni |
| Abstract: | Prior studies of travel mode choice in airport ground transportation identified several important relationships between traveler/trip attributes and the selected ground access mode(s). However, those studies did not comprehensively account for qualitative aspects of ground access mode choice, such as general and transportation-specific attitudes and perceptions of mode-specific airport infrastructure. To add insights into air travelers’ ground transportation choices, this study collected a dataset with a survey administered among travelers using four major airports in Northern California in the post-pandemic era.Among the analyses presented in the report, airport ground access mode choice was analyzed, and its relationships with travelers’ socio-demographics, attitudes toward transportation and related topics (e.g., environmental friendliness), and opinions about transportation infrastructure and services (e.g., airport parking fees). The authors identified relationships between air travelers’ attitudes or opinions and their mode choice not examined in prior studies. Specifically, travelers with pro-environment attitudes preferred public transit and ridehailing services over private vehicles. Travelers are more likely to choose public transit often if they highly rate its service frequency and accessibility from their home to a nearby station. The results suggest policymakers, airport authorities, and transit agencies consider electrification of ridehailing fleets, expansion of bus and rail service availability, and higher parking fees to reduce driving in private vehicles to the airport. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, Airport ground access, Travel Mode Choice, Attitudes and Perceptions, Airport infrastructure, Transportation Network Company (TNC) |
| Date: | 2024–08–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt21x0c45b |
| By: | Klotz, Phil-Adrian; Daniel, Theresa; Gail, Maximilian Maurice |
| JEL: | R48 R41 L91 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc24:302401 |
| By: | Lucie Letrouit (AME-SPLOTT - Systèmes Productifs, Logistique, Organisation des Transports et Travail - Université Gustave Eiffel); Martin Koning (AME-SPLOTT - Systèmes Productifs, Logistique, Organisation des Transports et Travail - Université Gustave Eiffel) |
| Abstract: | Building on the exogenous shock linked with the first COVID-19 lockdown in France (March-May 2020), we propose an original approach relying on econometric modelling to estimate the impacts of road freight transport on the concentration of NO2, NOx and PM10 in Paris. We argue that this shock led to a significant change in the composition of road traffic, with an increase in the relative share of freight vehicles with respect to passenger cars, due to the combined exodus of numerous inhabitants, the prohibition of non-mandatory trips and the promotion of home-deliveries. As light-duty vehicles and trucks pollute more than passenger cars, we hypothesize that it led to a rise in the average emissions of pollutants per kilometer traveled in Paris. We confirm this assumption by applying a simple econometric analysis to a rich dataset containing hourly pollutant concentrations and hourly traffic flows recorded in various locations of the French capital city. Relying on the econometric results and on additional back-of-the-envelope computations, we propose tentative estimates of the health impacts of road freight transport. As compared to a counterfactual in which freight traffic in Paris would have declined in the same proportion as cars during the sanitary crisis, hence resulting in a larger decrease in pollutants concentrations, we conclude that around 6 lives have been lost. Crossing this estimate with the official value of statistical life in France, our central scenario approximates at 0.114 euro/vkm the excess external cost of the local pollution emitted by freight vehicles as compared to cars. |
| Keywords: | Road freight traffic, Air pollution, COVID-19 lockdown, Health, External cost |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04695669 |
| By: | Lipman, Timothy E. PhD |
| Abstract: | Electric vehicles (EVs) are proliferating in California, with over 1.8 million operating in the state. Modern EVs have considerably larger battery packs than early models, in many cases 80-100 kWh for 250-300-mile driving ranges. Charging power for EVs is also increasing. With the appropriate wiring, residential charging at Level 2 has reached up to 19.2 kW though 7-10 kW is more typical, making EVs among the most demanding household power loads. These charging loads can stress local electricity distribution feeders, particularly in the early evening when power use typically peaks. |
| Keywords: | Engineering |
| Date: | 2024–10–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsrrp:qt8474n9tk |
| By: | Viteri, Christian; Taylor, David; Leamy, Michael |
| Abstract: | High charging loads associated with fleets of commercial electric vehicles (EVs) are expected to significantly stress electric power distribution networks, leading to high costs seen by fleet operators. To address these challenges, this report presents a highly flexible smart charging (SC) algorithm for managing EV fleets that arrive and depart from a common depot on a schedule. The algorithm features (i) primary consideration of multiple fleet operator preferences (e.g. minimizing cost, using carbon-free energy), (ii) secondary consideration of grid impact that leverages the existence of multiple optimal (or near-optimal) ways to satisfy fleet operator preferences, and (iii) automatic detection and handling of infeasibility due to large energy demands (characteristic of fleet charging). Provided in this document are two numerical impact assessment studies in which the SC algorithm is shown to be superior to conventional rapid charging, and conventional ‘smart’ charging solutions on the market. These studies utilize a set of synthetic, but realistic fleet charging requirements, a physics-based model of a real feeder and one year of real, hourly load data for that feeder. The first numerical study shows that the proposed SC algorithm can lead to significant (up to 44%, but scenario-dependent) reductions in a fleet operator’s annual electricity bill. The second numerical study shows that significant transformer overloading and voltage drop issues can be associated with conventional fleet charging methods, and that the proposed SC algorithm eliminates these issues, thereby enabling higher EV penetration levels and offsetting infrastructure upgrades. View the NCST Project Webpage |
| Keywords: | Engineering, Physical Sciences and Mathematics, Electric vehicles, commercial fleets, smart charging, convex optimization, grid impact |
| Date: | 2024–09–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt6d64d2tk |
| By: | Li, Xinwei; Jenn, Alan |
| Abstract: | This study delves into the energy and emissions impacts of Shared Autonomous and Electric Vehicles (SAEVs) on disadvantaged communities in California. It explores the intersection of evolving transportation technologies—electric, autonomous, and shared mobility—and their implications for equity, energy consumption, and emissions. Through high-resolution spatial and temporalanalyses, this research evaluates the distribution of benefits and costs of SAEVs across diverse populations, incorporatingenvironmental justice principles. Our quantitative findings reveal that electrification of the vehicle fleet leads to a 63% to 71% decrease in CO2 emissions even with the current grid mix, and up to 84%-87% under a decarbonized grid with regular charging. The introduction of smart charging further enhances these benefits, resulting in a 93.5% - 95% reduction in CO2 emissions. However, the distribution of these air quality benefits is uneven, with disadvantaged communities experiencing approximately 15% less benefits compared to more advantaged areas. The study emphasizes the critical role of vehicle electrification and grid decarbonization in emissions reduction, and highlights the need for policies ensuring equitable distribution of SAEV benefits to promote sustainable and inclusive mobility. View the NCST Project Webpage |
| Keywords: | Engineering, Social and Behavioral Sciences, Shared, autonomous, electric vehicles, equity, environmental justice, disadvantaged communities |
| Date: | 2024–09–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt08h3p0r6 |
| By: | Yoshifumi Konishi (Department of Economics, Keio University); Akari Ono (Graduate School of Economics, Keio University) |
| Abstract: | Economists are increasingly concerned with the heterogeneous impacts of transportation infrastructure investments on economic outcomes, particularly the phenomenon known as the “Straw Effect†: Core cities that were already in economic prosperity may gain more, and peripheral cities may lose, from transportation megaprojects. We empirically investigate whether such an effect manifests in the case of the Great Seto Bridges in Japan, a 70-billion-dollar project implemented in the 1980s-1990s as part of the “Building-a-New-Japan†initiative. We employ the recentered instrumental variable approach in the difference-in-differences design, exploiting the sharp decline in transport costs and its unexpected impacts on market access across cities as the exogenous sources of variation. Contrary to the Straw Effect, we find that large peripheral cities gain more than core cities from the megaproject, demonstrating that the distribution of winners and losers from the megaproject depends on how the transport cost reductions pass through in the existing network structures. |
| Keywords: | Market Access, Transportation Investment, Core-Periphery Model, Economic Geography, Quantitative Spatial Model, Treatment Effect under Spatial Network |
| JEL: | O18 R4 R11 R12 |
| Date: | 2024–08–11 |
| URL: | https://d.repec.org/n?u=RePEc:keo:dpaper:2024-018 |
| By: | Cheng, Ruoran |
| Abstract: | The Great Divergence has arguably been one of the most important debates in the field of economic history over the past two decades. This article contributes to this ongoing discussion from a novel perspective, specifically focusing on transportation conditions. Utilizing travel route books published since 16th century China, I reconstructed the national trade transport network of China during the Ming and Qing dynasties (14th to 19th centuries) and estimated transport costs and speeds in the Yangtze region during the late 17th and 18th centuries. These estimates were then compared with those of England for the same period. The findings reveal that, in the late 17th century, transport costs and speeds in the Yangtze region of China were comparable to those in England. However, a divergence emerged after 1700. This timing of divergence in transportation between the Yangtze region and England supports the strand of literature proposing that The Great Divergence began around 1700. |
| JEL: | N0 O53 L91 L96 |
| Date: | 2024–10–22 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:wpaper:125855 |
| By: | Fulton, Lewis PhD |
| Abstract: | While hydrogen fuel-cell electric vehicles (FCEVs) are seen as a part of California’s efforts to decarbonize transportation, especially for the heavy-duty vehicle sector, their role remains unclear. This may change, however, with the launch of the California Alliance for Renewable Clean Energy Hydrogen Energy Systems (ARCHES) developed by the California Governor’s Office of Business and Economic Development (GO-Biz) as a public-private partnership. The U.S. Department of Energy and ARCHES recently signed a $12.6 billion agreement to build a clean, renewable Hydrogen Hub in California, including up to $1.2 billion in federal funding. The transportation sector will play a central role in this effort, including commitments to deploy 6, 000 FCEVs, mainly trucks and buses, along with 60 refueling stations and other investments. |
| Keywords: | Engineering |
| Date: | 2024–10–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt98x3b8tv |
| By: | Zhi-Chun Li Author-Name : Wen-Jing Liu Author-Name : André de Palma (CY Cergy Paris Université, THEMA) |
| Abstract: | This paper studies vehicle license plate lottery rationing problem with spatial heterogeneity by using a two-area modeling framework. The equilibria of residential location and vehicle ownership choices of heterogeneous households with different values of time (VOTs) are first analyzed. A social welfare maximization model is then proposed for determining the optimal number of vehicle quotas and the optimal quota proportion allocated to central and suburban areas of the city. Two alternative lottery schemes, a city-based and an area-based scheme, are explored and compared. The results show significant spatial disparities in the behavior of central and suburban residents in the license plate lottery. When the transit service level in the suburban area is relatively low, the critical VOT for participating in the lottery for suburban residents is lower than that for central residents. The area-based lottery scheme welfare-dominates the city-based lottery scheme. Compared to laissez faire, the implementation of lottery rationing schemes may cause urban sprawl or shrink, depending on the scheme adopted (area-based or city-based) and the road service level. |
| Keywords: | License plate rationing; lottery; city-based vs. area-based; urban spatial structure; spatial heterogeneity; heterogeneous households |
| JEL: | R13 R14 R38 R41 |
| URL: | https://d.repec.org/n?u=RePEc:ema:worpap:2024-11 |
| By: | Hunt Allcott; Reigner Kane; Maximilian S. Maydanchik; Joseph S. Shapiro; Felix Tintelnot |
| Abstract: | We study electric vehicle (EV) tax credits in the US Inflation Reduction Act (IRA), the largest climate policy in US history, with three goals. First, we provide the first ex-post microeconomic welfare analysis of this central component of the IRA. Event studies around changes in eligibility for EV tax credits find that short-run economic incidence falls largely on consumers. Additionally, domestic content restrictions on tax credits for purchased vehicles have driven enormous shifts to leasing. Our equilibrium model shows that compared to pre-IRA policy, IRA EV credits generated $1.87 of US benefits per dollar spent in 2023, at taxpayer cost of $32, 000 per additional EV sold. Compared to scenarios with no EV credits, however, the IRA EV credits created only $1.02 of benefits per dollar of government spending. Second, we characterize the gains from policies targeting heterogeneity in externalities across vehicles. We find that relative to uniform credits, differentiating credits across EVs according to their heterogeneous externalities would substantially increase policy benefits. Third, we quantify tradeoffs in the IRA EV credits between foreign and domestic welfare and between trade and the environment. We find that the IRA EV credits benefit the environment but undermine trade, since they decrease global carbon emissions but use profit shifting to decrease foreign producer surplus. A controversial IRA loophole that removes domestic content restrictions on tax credits for EV leases has negative domestic benefits. |
| JEL: | F18 H23 L11 Q58 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33032 |
| By: | Joel Huesler (University of Bern); Eric Strobl (University of Bern) |
| Abstract: | We investigate how the frequent flooding that damaged the internal transport infrastructure in late 19th and early 20th colonial Jamaica affected local economies. To this end the evolution of the road and railways transport system was geo-referenced and combined with geo-localized damaging flood events, as well as with information on local economic activity proxied by internal tax revenue. Econometric analysis on our 30 year parish level time varying data set shows that lower market access from the flood disruptions to transport reduced tax revenue on average by 3.5%, and during some incidences up to 9.1%, over its two year impact. Decomposing the tax data by source suggests that both the property and the non-agricultural service sectors suffered after damaging floods. In contrast, flood disruptions benefited the agricultural sector, although only agricultural traders and not producers appear to have gained from investments in the transport network in general. |
| Keywords: | Transportation Network, Flooding, Market Access, Regional Economics, Jamaica |
| JEL: | Q54 R00 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:hes:wpaper:0268 |
| By: | Zhi-Chun Li Author-Name : Wen-Jing Liu Author-Name : André de Palma, Author-Name : Yuki Takayama Author-Name : Takao Dantsuji (CY Cergy Paris Université, THEMA) |
| Abstract: | This paper provides a theoretical analysis of the effects of autonomous vehicles (AVs) on the spatial structures of future cities. We consider two types of AVs, private AVs (PAVs) and shared AVs (SAVs). We assume that AVs have a lower marginal travel cost than human-driven traditional vehicles (TVs) due to additional utility caused by free activities in AVs, and PAVs have a lower marginal travel cost than SAVs due to better privacy and comfort. The land that SAVs release due to exemption of parking land is used for firm production and household residential uses. We also assume that the type of housing is regulated and designed by the government, and households rent houses from the government. Two urban spatial models, one for TVs and the other for PAVs / SAVs, accounting for the competition for land among firm production, household residence, and parking, are presented and compared. The government aims to determine the optimal housing sizes to maximize the social welfare of the city system. The finding shows that after introducing AVs, the city size may expand or shrink, depending on the marginal travel costs of AVs and the SAV market share in the AV market. The firm production rises for a full SAV city. Household utility and social welfare may increase or decrease, depending on the maturity level of AV technologies. |
| Keywords: | Private autonomous vehicles; shared autonomous vehicles; parking; urban spatial model; fixed cost; marginal travel cost |
| JEL: | R13 R14 R48 R52 |
| URL: | https://d.repec.org/n?u=RePEc:ema:worpap:2024-09 |
| By: | Romuald Le Frioux Author-Name : André de Palma Author-Name : Nadège Blond (CY Cergy Paris Université, THEMA) |
| Abstract: | This study explores how speed limit regulations for cars in Île-de-France affect air pollution from road trac and the economic costs linked to the population's exposure to this pollution. Using an enhanced version ofthe comprehensive and integrative modeling system, METRO-TRACE (Le Frioux, de Palma, and Blond, 2023), the research combines detailed geographical data, a mobility model to simulate population movements, and an air quality model to assess the economics costs associated with population exposure to road trac related air pollution . The ndings show that the yearly cost of population exposure to road trac pollution is 118.6 e per person. Implementing speed limit policies may not signicantly reduce these costs unless they are substained over the long term or accompanied by behavioral adjustments. The study highlights the intricate relationship between speed limits, pollutant emissions, and their economic consequences. |
| Keywords: | Trac pollution, population exposure, integrated chain of model, dynamic transport model, air pollution exposure monetarization |
| JEL: | R48 Q51 Q58 Q53 |
| URL: | https://d.repec.org/n?u=RePEc:ema:worpap:2024-10 |
| By: | McGinnis, Claire; Barajas, Jesus M. PhD |
| Abstract: | The historical impacts of transportation planning and investment have left lasting scars on communities of color and low-income communities. This research evaluates online equity tools that exist as spatial dashboards —i.e., interactive maps in which the parameters of interaction are controlled. Twelve tools ranging from the national to the local level were identified and qualitatively assessed for their ability to address conditions related to transportation equity. The evaluation focused on how each tool defines disadvantaged communities, the outcomes they measure (benefits, burdens, or other), their ease of use, and their ability to guide decisions about equity. The findings show a diversity of methods and metrics in defining disadvantage, with most relying on composite demographic indexes and comparative population thresholds. Tools most commonly provided accessibility metrics to assess transportation benefits, while incorporating a range of environmental and health indicators as burden measures. A minority of tools had integrated features to support planning or project implementation. This study provides examples of promising practices in transportation equity support tools. |
| Keywords: | Social and Behavioral Sciences, Transportation equity, environmental justice, metrics (quantitative assessment), performance measurement, decision making, data dashboards |
| Date: | 2024–09–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt5jz35792 |
| By: | Knight, Kelli Anne; Miller, Sabbie A. |
| Abstract: | Recent California regulatory efforts, United States goals, and industry roadmaps all target net-zero greenhouse gas (GHG) emissions from the cement and concrete industries within a few decades. While changes in production of cement and concrete, including varying constituents, can greatly reduce GHG emissions, carbon dioxide removal (CDR) will be needed to meet this net-zero goal. Hydrated cement in concrete can carbonate (i.e., form carbon-based minerals with atmospheric CO2) and thus act as a CDR mechanism. This process occurs faster with a large surface area, such as crushed concrete at its end-of-life (EoL), which can be uniquely leveraged by transportation infrastructure projects. In this work, a literature review of key parameters that can facilitate desired CO2 uptake for transportation projects at their end of life is conducted and an initial meta-analyses of data from the literature to inform CO2 uptake for individual projects is performed. Initial considerations for what concomitant impacts may arise from this process are presented. Finally, experiments to fill a key gap in understanding how thin crushed concrete must be spread to maximize uptake reactions are conducted. Cumulatively, findings will inform whether carbonation can be implementedin a way that would support policies that include carbonation as a route for reducing emissions from cement-based materials in transportation applications View the NCST Project Webpage |
| Keywords: | Engineering, Concrete, Carbonation, Direct Air Capture, Carbon dioxide removal |
| Date: | 2024–09–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt30d5k089 |
| By: | Pittman, Russell |
| Abstract: | How to protect “captive shippers” from monopolistic abuses by a railway? In an “open access” system, it’s straightforward: provide infrastructure access to a competing train operating company. In a system without open access – as in, for example, the United States, Canada, Mexico, and Brazil – it’s not so straightforward. For freight shippers lacking economic intramodal or intramodal shipping alternatives, regulators and policymakers have focused on regulatory alternatives in two broad categories: 1) direct regulation of rates, and 2) imposed, regulated competition from a second railway (for example, interswitching or trackage rights). We argue that, despite disadvantages familiar to every Economics 101 student, direct regulation of rates has proven to be the superior alternative, and we discuss alternative mechanisms currently under debate. |
| Keywords: | freight railways, regulation, captive shippers, Canada, Mexico |
| JEL: | L51 L92 L98 |
| Date: | 2024–10–04 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122284 |
| By: | Busso, Matías; Fentanes, Oscar |
| Abstract: | What determines the aggregate and distributional effects of new transportation infrastructure? One key overlooked channel is the role that infrastructure policy plays in changing the incentives of firms to enter, exit, and grow--in turn generating endogenous changes in local productivity. In this paper, we document and quantify the importance of this channel by using detailed Mexican microdata and a spatial general-equilibrium model that incorporates firm dynamics. Leveraging random delays in the construction of highways, we empirically show that productivity grows in places with better transportation infrastructure. Firms play a critical role in driving these results: highways increase firms' size, entry rates, survival rates, and total factor productivity. Then, by calibrating our model on census data between 1998 and 2018, we find that new highways over this period increased welfare and income by half a percent, similar to its costs in terms of GDP. Moreover, we find substantial spatial reallocation of workers and production. Nearly half of these effects are explained by endogenous changes in local productivity, which is driven by firm dynamics. |
| Keywords: | Economic geography;firm dynamics;Infrastructure |
| JEL: | R12 D24 O18 O54 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:idb:brikps:13759 |
| By: | Yoshifumi Konishi (Faculty of Economics, Keio University); Sho Kuroda (Faculty of Commerce, Waseda University); Shunsuke Managi (Department of Urban and Environmental Engineering, School of Engineering, Kyushu University) |
| Abstract: | We empirically examine the distributional consequences of income-based versus place-based recycling of carbon tax revenues when automobile demand varies substantially over geographic space. Using a large household dataset from Japan, we estimate a discrete-continuous choice model that parsimoniously accounts for the geographic distribution of incomes, public transit, and portfolio preferences. The model outperforms a naive random-coefficient model in explaining the observed spatial distribution of automobile demand, and allows us to estimate the price and income elasticities that vary by income and public transit density. The estimated model is used to simulate the distributional impacts of income-based versus place-based revenue recycling on carbon emissions and consumer welfare. Our results show the following: first, the improvement in consumer welfare from rebates substantially outweighs the increase in negative externalities from the rebound in carbon emissions; second, place-based recycling outperforms income-based recycling in mitigating welfare losses for low-income and rural households, which face the greatest welfare losses from the carbon tax. |
| Keywords: | Carbon dividend, climate justice, equity-efficiency trade-off |
| JEL: | H23 H31 L62 Q54 Q56 |
| Date: | 2024–08–29 |
| URL: | https://d.repec.org/n?u=RePEc:keo:dpaper:2024-019 |
| By: | Bert Van Landeghem; Thomas Dohmen; Arne Risa Hole; Annemarie Künn-Nelen |
| Abstract: | This study examines jobseekers' preferences for a variety of job attributes. It is based on a choice experiment involving 1, 852 clients of the Flemish Public Employment Service (PES). Respondents value flexibility (e.g., remote work and schedule flexibility), job security and social impact of the job, and require significant compensation for longer commute times. A majority (70%) would need very substantial wage increase beyond their acceptable baseline wage to compensate for less flexibility, job security or social impact. These findings enhance our understanding of labour supply decisions and can inform the design of salary packages and HR policies. |
| Keywords: | Reservation Wage; Job Search; Job Amenities; Compensating Differentials; Choice Experiments |
| JEL: | J31 J32 J64 J16 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2024_597 |
| By: | Halkos, George E; Aslanidis, Panagiotis-Stavros; Landis, Conrad; Papadaki, Lydia; Koundouri, Phoebe |
| Abstract: | The present review examines the primary (heatwaves and air pollution) and cascading (population density, traffic and noise, health issues, and biodiversity loss) hazards in urban settlements. The motivation is to understand the interaction between hazards in urban areas to develop a novel holistic approach that enhances urban sustainability. Three objectives are (i) to monitor valuation studies that reveal willingness to pay (WTP) for major urban-related challenges, (ii) to assess non-marketed valuation studies, and (iii) to examine the interactions between the hazards and their impacts on people and the environment. Based on Environmental Valuation Reference Inventory and Ecosystem Services Valuation Database, from 5329 studies, 80 were retrieved that focus solely on the economic measures of 220 WTP values for different ecological and recreational issues during the period 2000-2023. The findings show that regarding the mean WTP (MWTP) values, the valuation studies reveal a MWTP of 142€ for heatwaves mitigation, whereas for air pollution 76€. Moreover, in terms of cascading hazards, the highest MWTP was for population density (298€), followed by biodiversity loss (96€), health issues (63€), and lastly by traffic and noise with 42€. However, biodiversity loss is the most significant stressor for all target groups (citizens, workers, and flora and fauna), therefore, policymakers should invest in green and blue infrastructure, energy-saving technologies, and transportation alternatives in order to improve urban resilience, safeguarding both human health and the natural environment. |
| Keywords: | climate change, heatwaves, air pollution, biodiversity loss, population density, WTP, valuation studies |
| JEL: | Q50 Q54 Q57 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122262 |