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Valuing the eudaimonic wellbeing benefits of land use transport measures

Authors: Stanley, John; Hensher, David A.; Vella-Brodrick, Dianne A.; Stanley, Janet;

Valuing the eudaimonic wellbeing benefits of land use transport measures

Abstract

Benefit measurement for locally-focused land use transport interventions is often narrow. The ultimate purpose of such interventions is often improved citizen wellbeing, yet this is seldom measured or monetized. Adding such valuation provides a way to more comprehensively reflect the value of associated interventions. Subjective wellbeing measurement is broadly divided between hedonic and eudaimonic streams, benefit monetization focusing on the value of changes in life satisfaction (part of hedonic wellbeing). While improving life satisfaction might have initial value, this might not be sustained if eudaimonic wellbeing is not concurrently promoted, suggesting land use transport policy/planning should take a broader view of what it means for people to be ‘well’ than is embedded in life satisfaction. However, no values have been identified for changes in levels of eudaimonic wellbeing, partly because of lack of agreement about how to best measure eudaimonic wellbeing. To address this monetisation gap, the paper develops a value for changes in eudaimonic wellbeing, measured using Ryff’s (1989) Scale, and explores implications for valuing wellbeing as life satisfaction. The resulting eudaimonic wellbeing values are likely to be particularly useful for evaluating land use/transport initiatives with a local focus, such as walking and place-making improvements, but the monetised values are more broadly applicable. Literature implied that changes in eudaimonic wellbeing may have higher monetized value than changes in life satisfaction, because of the broader societal connections embedded within eudaimonic wellbeing, an expectation confirmed in the analysis, highlighting the policy importance of eudaimonic wellbeing.

Country
Australia
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Keywords

ANZSRC FoR code::35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES::3509 Transportation, logistics and supply chains, hedonic wellbeing, cost benefit analysis, monetized values of wellbeing change, Eudaimonic wellbeing, life satisfaction

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
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