Fascinating statistics
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TRANSPORT ECONOMICS (Allen and Unwin; £6.95 paperback) is one of a series of 19 books dealing with specialised aspects of economic studies. Its authors, Messrs Stubbs, Tyson and Dalvi, wrote the first edition of this book in 1980 when they were teaching a transport economics course at Manchester University. The book was revised last October.
Aimed at transport students at degree or Higher National Diploma level it would also be useful for those taking their Chartered Institute of Transport final exams. It covers pricing, supply and demand, investment and trip modelling.
A chapter with the daunting title of Spatial Equilibrium examines location theory or how firms decide where to base themselves bearing in mind transport costs.
Among the pages are some fascinating statistics. For example, the book quotes Department of Transport 1982 time valuations showing the value of people's time travelling by various means of transport, based on average wage rates. Car drivers' time is valued at £4.11 an hour while bus passengers' time comes cheap at £2.73 an hour. "Goods vehicle occupants" time is rated at E3.00 an hour. The figures are used to evaluate transport investment.
Economics crosses all model barriers and so does the book, although separate chapters are warranted on sea transport and airline economics.
Despite its academic role, the authors' style is fairly straightforward and concise.
There are plenty of diagrams and tables.
George Allen & Unwin, 40 Museum Street, London WC1A 1LU.