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Decision-making theory
Published in Vitalija Danivska, Rianne Appel-Meulenbroek, A Handbook of Management Theories and Models for Office Environments and Services, 2021
Cost-benefit analysis (CBA) is a method by which one can analyse the economic impact of decisions, systems, projects or investments, where costs and benefits are usually valued in monetary terms (Mishan, 1971). The method calls for execution of the following steps: (1) identify benefits of the subject matter; (2) identify and measure costs; and then (3) compare and contrast the identified benefits to the costs. This method is adopted from environmental analysis and policy decisions and applied in corporate real estate and facility management decisions. Nevertheless, in the workplace this necessarily requires to account for non-monetary costs and benefits (van der Voordt, 2004). It would be interesting to see CBA elaborated by different workplace stakeholders, as a means to figure out their respective values, beliefs and expectations, similarly to what Arkesteijn (2019) elaborated in a framework of decision variables with four different stakeholder categories.
Public transport evaluation
Published in Corinne Mulley, John D. Nelson, Stephen Ison, The Routledge Handbook of Public Transport, 2021
The term “economic impact” correctly refers to effects on the economy of an area, which can occur as a consequence of project capital and operations spending or transportation impacts on productivity, household and business spending patterns and consequential effects on inward investment and business growth. This is in contrast to “economic benefit”, which refers to the valuation of transportation system benefits as well as wider social, environmental and productivity benefits that may be considered in a social CBA; this is discussed further under “Social Benefits” subsequently. A related concept is “economic contribution”, which refers to the current role of public transportation in supporting jobs and income in the economy. Economic impact studies typically report on results in terms of various measures or dimensions of economic growth, listed in Table 11.7. It is important to note that these measures are highly related and are thus not additive. The difference between economic benefit and impact measure is further discussed in Weisbrod et al. (2016, 2017).
The Evolving Air Transport Industry
Published in Bijan Vasigh, Ken Fleming, Thomas Tacker, Introduction to Air Transport Economics, 2018
Bijan Vasigh, Ken Fleming, Thomas Tacker
Economic impact can be divided into three categories: direct, indirect, and induced. Direct impact represents economic activities that would not have occurred in the absence of air transportation. In the air transportation industry, both airlines and airports provide the economy and local communities with a direct economic impact. Examples of direct economic impacts include the salaries of airline personnel, fuel purchased, landing fees, salaries of airport personnel, and other similar purchases and expenditures. Indirect economic benefits include the financial benefits that are attributed to airport/airline activities. Examples of indirect economic impacts for air transportation include hotels, restaurants, and other retail activities. There is usually a causal relationship between the industry and indirect impacts. For example, if a community experienced a reduction in air travel, the hotel industry in that community would most likely suffer a fall in room occupancy rates as well. Finally, induced economic impacts are the multiplier effects of the direct and indirect impacts. induced impacts account for the increased employment and salaries that come from secondary spending that results from the direct and indirect economic impacts. The total of these economic impacts measure the importance of an industry in terms of the employment it provides and the goods and services it consumes. The following sections explore the effect of air transportation on each of these economic impacts.
Repositioning cities through star architecture: how does it work?
Published in Journal of Urban Design, 2018
Nadia Alaily-Mattar, Johannes Dreher, Alain Thierstein
Towards this purpose, this paper borrows concepts and tools from the classic model of economic impact analysis and adapts them to the needs of this research. A basic definition of economic impact analysis is that it is an estimation of the changes in economic activity within a region resulting from some action (MSU, Economic Impacts of Recreation and Tourism 2017). Economic impact analysis is sometimes called impact evaluation or outcome evaluation; it may be ex ante that is assessing the likely impacts of proposed or hypothetical actions, or ex post, measuring economic activity associated with an action (Kellogg Foundation 1998). The concept of evaluability draws attention to the difficulty and sometimes impossibility of evaluating impact (Rossi, Freeman, and Lipsey 1999) owing mostly to the systemic nature of causal relationships and what Weiss (1997, 515) calls the “aggressively rationalistic stance” of evaluation. Evaluation assumes that goals are fixed at the beginning and do not change. This of course is seldom the case; new goals emerge along the way. Hence, it must be stressed here that the purpose of using the tools of impact evaluation in this paper is not to evaluate star architectural projects, but rather to develop a conceptual impact model that can describe the underlying hypotheses of how star architectural projects ‘work’.