Welfare Economics and Supporting Appropriate Consideration of Equity in Transportation

Explore a comprehensive lecture on the role of welfare economics in addressing equity considerations within transportation systems. Delve into Professor José Holguín-Veras' research on developing objective functions that account for the effects of critical supply and service deprivation. Examine the challenges of allocating resources in disaster contexts, limitations of classic objective functions, and the potential of social cost mathematical models. Gain insights into estimating deprivation cost functions, mathematical formulations, and their implications for equitable transportation planning. Learn how welfare economics principles can be applied to improve disaster relief efforts and create more just transportation systems.