Cost-benefit analysis and large-scale infrastructure projects: state of the art challenges

Vickerman, Roger W. (2007) Cost-benefit analysis and large-scale infrastructure projects: state of the art challenges. Environment and Planning B: Planning and Design, 34 (4). pp. 598-610. ISSN 0265-8135. (The full text of this publication is not available from this repository)

The full text of this publication is not available from this repository. (Contact us about this Publication)
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 Apr 2014 13:43
Resource URI: http://kar.kent.ac.uk/id/eprint/553 (The current URI for this page, for reference purposes)
  • Depositors only (login required):