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 currently available from this repository. You may be able to access a copy if URLs are provided)

The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. (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: https://kar.kent.ac.uk/id/eprint/553 (The current URI for this page, for reference purposes)
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