On timetable assumptions in railway investment appraisal

被引:11
作者
Eliasson, Jonas [1 ]
Borjesson, Maria [1 ]
机构
[1] KTH Royal Inst Technol, Ctr Transport Studies, S-10044 Stockholm, Sweden
关键词
Cost-benefit analysis; Appraisal; Railway investments; Timetables; BRITISH-EXPERIENCE; PROJECTS;
D O I
10.1016/j.tranpol.2014.08.008
中图分类号
F [经济];
学科分类号
02 ;
摘要
The benefits captured in an appraisal of a railway investment are determined by what timetables the analyst assumes in the scenarios with and without the investment Without an explicit, objective and verifiable principle for which timetables to assume, the appraisal outcome is virtually arbitrary. This means that appraisals of railway investments cannot be compared to each other, and opens the door for strategic behaviour by stakeholders conducting seemingly objective cost-benefit analysis. We explain and illustrate the nature and extent of the problem, discuss possible timetable construction principles, and show that current practice is likely to exaggerate appraisal benefits. (C) 2014 Elsevier Ltd. All rights reserved.
引用
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页码:118 / 126
页数:9
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