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BEFORE AND AFTER BENEFIT-COST ANALYSIS IN URBAN TRANSPORTATION

Eric Peterson, Frank Mittelbach

Abstract

THE ACCURACY AND UTILITY OF BENEFIT-COST ANALYSIS IN URBAN TRANSPORTATION WAS INVESTIGATED. THE PURPOSE OF THIS REPORT WAS TO EXAMINE EXPECTED BENEFITS AND COSTS ASSOCIATED WITH PARTICULAR TRANSPORTATION PROJECTS AND TO COMPARE THEM WITH ACTUAL RESULTS. BENEFIT-COST ANALYSIS IS DESCRIBED IN DETAIL ALONG WITH CONCEPTUAL AND PRACTICAL PROBLEMS. THE SANTA ANA FREEWAY IN LOS ANGELES WAS A SELECTED CASE STUDY TO COMPARE EX ANTE-EX POST BENEFITS AND COSTS WITH REFERENCE TO TIME VALUE SAVINGS FOR FREEWAY USERS AND HIGHWAY COMMODITY SAVINGS. THE ANALYSIS REVEALED SIGNIFICANT DIFFERENCES BETWEEN THE BENEFITS AND COSTS ANTICIPATED AND THOSE WHICH WERE OBSERVED. ASSUMPTIONS IN THE EX-ANTE ANALYSIS ARE DISCUSSED IN DETAIL. THE REPORT CONCLUDES WITH RECOMMENDATIONS TO IMPROVE THE EFFECTIVENESS OF BENEFIT-COST STUDIES IN URBAN TRANSPORTATION DECISION-MAKING. /UMTA/

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Key concepts: Cost–benefit analysis, Ex-ante, Cost analysis, Commodity, Transport engineering, Operations research, Business, Risk analysis (engineering)