AN ECONOMIC REPLACEMENT MODEL FOR HIGHWAY SURFACE DETERMINATION

THIS PAPER ATTEMPTS TO POINT OUT BASIC INADEQUACIES IN THE CONVENTIONAL COST APPROACH TO HIGHWAY SURFACE-TYPE DETERMINATION, AND SUB>EQUENTLY, PRESENTS AN ECONOMIC REPLACEMENT MODEL COACHED WITHIN A HIGHWAY FRAMEWORK. THE CONVENTIONAL METHOD RELIES HEAVILY ON A STATIC CONCEPT OF COST, WHEREAS THE PROPOSED REPLACEMENT MODEL RECOGNIZES THE VALUE OF FUNDS OVER TIME, THE FIRST-MENTIONED APPROACH REQUIRES A PREDETERMINED ESTIMATE OF SURFACE LIFE, WHEREAS THE LATTER METHOD IS EQUIPPED TO MAKE AN OBJECTIVE DETERMINATION TO SURFACE LIFE. THE REPLACEMENT APPROACH, IN AN ATTEMPT TO RECOGNIZE ALL COSTS ASSOCIATED WITH THE SURFACE STRUCTURE OVER ITS LIFE, INCLUDES AN ESTIMATE OF ROAD USER COST NOT PRESENT IN THE HRB METHOD. SPECIFICALLY, THE MODEL PROVIDES A SURFACE REPLACEMENT SOLUTION IN TERMS OF AN OPTIMUM ECONOMIC TIME SPAN FOR PAVEMENT TYPE /I.E., RIGID OR FLEXIBLE / BASED ON THE MINIMIZATION OF AN AVERAGE COST STREAM OVER TIME, WHERE THE COST STREAM IS MADE UP OF THE INITIAL SURFACE STRUCTURE COST AND THE ANTICIPATED STREAM OF MAINTENANCE AND ROAD USER COSTS. IN THIS PAPER THE ANTICIPATED STREAM OF MAINTENANCE COSTS IS SIMPLE REGRESSION ESTIMATES OF THESE COSTS OVER THE LIFE OF SELECTED RIGID AND FLEXIBLE PAVEMENT STRUCTURES. THE FINAL SOLUTIONS YIELDED BY THE MODEL, IN TERMS OF PRESENT WORTH CALCULATIONS, INDICATE THE COMPARATIVE TOTAL AMOUNTS OF MONEY NEEDED TODAY TO BUILD , MAINTAIN, AND OPERATE EITHER A FLEXIBLE- OR RIGID-TYPE SURFACE STRUCTURE OVER TIME. /AUTHOR/

Media Info

  • Media Type: Print
  • Features: Appendices; Figures; References; Tables;
  • Pagination: pp 124-148
  • Monograph Title: Highway economics
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00201305
  • Record Type: Publication
  • Files: TRIS, TRB
  • Created Date: Dec 2 1994 12:00AM