Introduction

Ginés de Rus, M. Pilar Socorro, Jorge Valido () and Javier Campos
Additional contact information
Jorge Valido: University of Las Palmas de Gran Canaria

Chapter Chapter 1 in Economic Evaluation of Transport Projects, 2023, pp 1-10 from Springer

Abstract: Abstract A project, interpreted as any public policy affecting the economy, should not be approved unless the intervention increases social welfare compared to the next best alternative. This implies a rigorous exercise of identification, measurement, and valuation of the flow of benefits and costs so that the analyst can provide the government, and society, with an estimation of the consequences of public intervention on social welfare. This is what cost-benefit analysis (CBA) is about. This book is about CBA of policies and investment projects in transport. Its purpose is to show how the economic appraisal of transport investments and policies provides valuable information for decision-making beyond intuition or goodwill. A key point to avoid misunderstandings concerning the purpose of CBA is the distinction between impact effects and net welfare effects. We stress the importance of having an analytical framework, a model where the practical criteria of measurement are obtained. Although the methodology is common to many other areas, the characteristics of transport as an economic activity make this field particularly suitable for the application of CBA.

Date: 2023
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-35959-0_1

Ordering information: This item can be ordered from
http://www.springer.com/9783031359590

DOI: 10.1007/978-3-031-35959-0_1

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().