Cost benefit analysis of urban minibus operations.

Earlier work by the Transport Studies Group of the Polytechnic of Central London on minibus development in Britain for the Transport and Road Research Laboratory provided a financial analysis of intensive urban minibus operation. This is taken as the basis for the application of cost-benefit analysis. Unit operating cost savings and passenger benefits are taken into account, using typical demand elasticities derived from earlier work. Particular attention is paid to the problem of evaluating passenger benefits for which waiting time at the roadside is not necessarily an adequate proxy. A direct survey of passenger waiting times indicates that these do not necessarily decrease when a higher-frequency minibus service replaces a conventional bus service but the improved convenience produces an increase in ridership which may be assessed in terms of a demand curve shift to estimate benefits obtained. [ABSTRACT FROM AUTHOR]