Vickerman, R.W. (2007) Cost-benefit analysis and large-scale infrastructure projects: state of the art challenges. Environment & Planning B-Planning & Design, 34 (4). pp. 598-610. ISSN 0265-8135.
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| Official URL http://dx.doi.org/10.1068/b32112 |
Abstract
In this paper I review the problems surrounding the use of cost-benefit analysis (CBA) in the appraisal of large-scale infrastructure projects. I define the requirements of a best-practice transport CBA and show the difficulties in achieving these for large-scale projects. The main difficulties discussed are those of forecasting over long time periods, dealing with imperfect competition in transport-using sectors to obtain estimations of wider transport benefits, introducing private finance and appraising network effects. I conclude that CBA can remain a valuable tool as part of the appraisal process but that the inputs to a CBA have to be carefully assessed, and complementary approaches, such as computable general equilibrium modelling, have a useful role to play for very large or network projects
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > HE Transportation and Communications |
| Divisions: | Faculties > Social Sciences > School of Economics |
| Depositing User: | Roger Vickerman |
| Date Deposited: | 19 Dec 2007 18:19 |
| Last Modified: | 23 Mar 2012 11:57 |
| Resource URI: | http://kar.kent.ac.uk/id/eprint/553 (The current URI for this page, for reference purposes) |
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