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The social appraisal of transport infrastructure

Ginés de Rus ()


Abstract: Transport infrastructure contributes to social welfare when a basic condition is fulfilled: social benefits should exceed social costs. It has been common to see infrastructure with a biased perspective leading to the belief that the more, the bigger and the more advance technologically the better. The concept of opportunity cost of public money does not seem to be understood by many who take crucial decisions on the construction of new large projects. In this paper, the economic evaluation of projects is defended as a way to avoid the construction of socially unprofitable projects.

Keywords: Cost benefit analysis; infrastructure; transport (search for similar items in EconPapers)
JEL-codes: D61 H41 K23 L52 L91 L97 (search for similar items in EconPapers)
Date: 2009
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