Valuing freight transport: A Canadian example of the role of selected methodologies

Abstract This paper examines four methods used to assess the value of the benefits and costs of freight transportation from a broader lens than just economic value. As with any mode of transportation, the benefits and costs of freight transport are numerous and diverse, and there is no widely agreed-on approach for assessing the values. The key focus of the paper is to examine how transport industries and modes are valued. However, the methodologies ultimately chosen need to reflect the purpose (or objective) of the valuation. In exploring the strengths and limitations of four methods of assessing value, this paper may assist others exploring the value of various modes of transportation. The paper concludes that adoption of more than one approach to measuring value provides a more holistic understanding of the role played by a mode of transportation, whether the perspective is one of government, industry or citizen.