A REVIEW OF COST-BENEFIT ANALYSIS AS APPLIED TO THE EVALUATION OF NEW ROAD PROPOSALS IN THE U.K.

The U.K. Department of Transport's COBA program is used to evaluate proposed highway schemes. This paper argues that the Department of Transport's current COBA manual and procedure for assessing new highway proposals should be extended to include the monetary value of the environmental impacts attributable to a new road. Environmental amenity effects are broadly defined here to encompass any attribute of land that affects the welfare of people and which is not currently monetarized in COBA when assessing the impact of road building. The paper proceeds by reviewing the treatment of the monetary valuation of land in COBA; identifying the economic impact of road building schemes on the amenity values of land; and suggesting how the amenity benefits of land might be monetarized and incorporated into COBA.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/issn/13619209
• Corporate Authors:

  Elsevier

  The Boulevard, Langford Lane
  Kidlington, Oxford  United Kingdom  OX5 1GB
• Authors:
  • Willis, Kenneth G
  • Garrod, G D
  • Harvey, D R
• Publication Date: 1998-5

Language

• English

Media Info

• Features: Figures; References; Tables;
• Pagination: p. 141-156
• Serial:
  • Transportation Research Part D: Transport and Environment
  • Volume: 3
  • Issue Number: 3
  • Publisher: Elsevier
  • ISSN: 1361-9209
  • Serial URL: http://www.sciencedirect.com/science/journal/13619209

Subject/Index Terms

• TRT Terms: Benefit cost analysis; Economic factors; Highway planning; Land values
• Geographic Terms: United Kingdom
• Subject Areas: Economics; Highways; Planning and Forecasting; I21: Planning of Transport Infrastructure;

Filing Info

• Accession Number: 00751884
• Record Type: Publication
• Files: TRIS
• Created Date: Aug 4 1998 12:00AM