The logsum as an evaluation measure-review of the literature and new results

  title={The logsum as an evaluation measure-review of the literature and new results},
  author={Andrew Daly and Toon Van Der Hoorn},
The logsum is a measure of consumer surplus in the context of logit choice models. In spite of the abundant use of logit models in transport, p roject assessment is only rarely done using logsums. Instead in project evaluation or appraisal , changes in transport costs and time (borrowing values of time from some source) are com m nly used to get the traveller benefits. The paper contains a review of the theore tical and applied literature on the use of logsums as a measure of consumer surplus… CONTINUE READING

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