Investment projects of companies can be assessed by various methods. There are methods non-profit character, as well as static methods, dynamic methods and real option methods. The basic requirement for the method should include liquidity factor, time factor and the risk factor in the evaluation. Methods that do not respect these demands, we can consider the approximate methods. However, there are areas where these methods can not be simply used.             The main objectives of this thesis are the specifications of the problems of development of transport, especially railway transport in the Czech Republic and its comparison with neighboring countries and the characteristics and assessment methods to evaluate investments in transport, which are used for the assessment of transport projects in the Czech Republic.

This thesis contains five papers studying the economic efficiency and political acceptability of road pricing policies and transport investments in distorted economies. Interactions between the transport market and other distorted markets, such as the labor market, can have a large impact on the welfare effect of a road pricing policy or a transport investment. Many road pricing studies therefore try to incorporate effects from other distorted markets in the analysis. Paper I analyzes how the economic efficiency of a road toll in a distorted economy depends on assumptions about the initial tax system. In the road pricing literature, the welfare effect of a road toll is often found to depend on revenue use. Using a simple general equilibrium model paper I shows that the relative efficiency of marginal revenue recycling policies depends more on assumptions regarding inefficiencies in the initial tax system than on the road toll per se. Paper II studies the effect on welfare, equity and labor supply from a road toll in a commuting population with heterogeneous value of time and endogenous labor supply. When explicitly taking into account that commuters have different value of time, the road toll can increase total labor supply even when the revenues are not recycled back to the commuters. The analysis stresses the importance of recognizing traveler heterogeneity when analyzing congestion pricing. Road pricing policies are often characterized by conflicting interests between different stakeholders and different geographical areas. Papers III and IV study the economic efficiency and political acceptability of pricing and investment policies in different institutional and geographical settings. The main contribution of the papers is to explain how political constraints can lead to inefficient tolling strategies. The papers contribute to the existing literature on political acceptability of road pricing by analyzing the conflict and potential trade-off between political acceptability and economic efficiency. A difficulty when assessing the welfare effect of a future transport policy is also that many factors and parameters needed for the analysis are uncertain. Paper V studies the climate benefit of an investment in high speed rail by calculating the magnitude of annual traffic emission reduction required to compensate for the annualized embedded emissions from the construction of the line. The paper finds that to be able to balance the annualized emissions from the construction, traffic volumes of more than 10 million annual one-way trips are usually required, and most of the traffic diverted from other transport modes must come from aviation. / <p>QC 20121010</p>

Interactions between the transport market and other distorted markets, such as the labor market, can have a large impact on the overall welfare effect of a road pricing policy or a congestion charge. Many road pricing studies therefore try to incorporate effects from other distorted markets in the analysis. A difficulty when assessing the welfare effect of a future transport policy is also that many factors and parameters needed for the analysis is uncertain. This thesis contains three papers all studying different methodological approaches to analyzing the welfare effects of transport policies. The first two papers analyze the welfare effect of congestion pricing in distorted economies. The main contribution of the first paper is to analyze how the welfare effect of a congestion charge in a distorted economy depends on what assumptions we make regarding the tax system in the initial no-toll situation. A critical assumption in many cost-benefit analyses of congestion charges is that the whole population has a single value of time. The second paper studies the effect of a congestion charge in a population of commuters with a continuously distributed value of time. The main contribution of the paper, compared to previous literature, is that it studies the welfare effect and distributional impact of a congestion charge in a population with endogenous labor supply and heterogeneous value of time where mode-choice self-selection plays an important role. The third paper studies the climate benefit of an investment in high speed rail by calculating the magnitude of annual traffic emission reduction required to compensate for the annualized embedded emissions from the construction of the line. To account for uncertainties in underlying assumptions, a Monte Carlo simulation framework is used in the analysis. The paper finds that to be able to balance the annualized emissions from the construction, traffic volumes of more than 10 million annual one-way trips are usually required, and most of the traffic diverted from other transport modes must come from aviation. / QC 20110812