Forecasting

Abstract

A core problem of transportation planning is to identify infrastructure projects in which scarce resources are invested to maximize the provision of the public good. Some agencies proactively develop comprehensive transportation plans to guide these decisions and to provide certainty for other agents in the urban system, others make decisions by reacting to evolving market conditions and travel demands. Whether there is a comprehensive plan or not describing the “final” state of the network, the timing of future investment decisions is rarely specified beyond the current (typically six-year) Capital Investment Program.