ON GREY'S CRITIQUE OF GENERALISED COST

It is argued that some of Grey's criticisms (this issue) - including those at the centre of his argument - are based on faulty logic, invalid premises, or lack of clarity about what current practice actually is. An appropriate definition of generalised cost, together with a sensitive disaggregation of major groups of the population, can help to increase the reliability of forecasts and provide a consistent underlying framework for analysis of otherwise disparate projects. some of Grey's criticisms are more valid, however, and there is a case for some changes in current practice. This can best be done by adapting, rather than abolishing, the tool of generalised cost, since the alternatives available seem even more flawed, in terms of being either arbitrary or inconsistent. /Author/TRRL/

  • Availability:
  • Corporate Authors:

    Elsevier

    Radarweg 29
    Amsterdam,   Netherlands  1043 NX
  • Authors:
    • Goodwin, P B
  • Publication Date: 1978-9

Media Info

  • Features: Figures; References; Tables;
  • Pagination: p. 281-295
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00189577
  • Record Type: Publication
  • Source Agency: Transport and Road Research Laboratory (TRRL)
  • Files: ITRD, TRIS
  • Created Date: Apr 12 1979 12:00AM