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

摘要

The U. K. Department of Transport's COBA program is used toevaluate proposed highway schemes. COBA compares construction andmaintenance costs against the benefits (time savings plus fuel andnon-fuel Vehicle operating costs plus accident savings) of a highwayproposal. COBA does not value environmental Externalities of highwaysdevelopments in monetary terms: externalities such as noise, visualintrusion, recreation Loss, air pollution, wildlife, etc., are merelydocumented in terms if their physical impacts, leaving decision- Makers to judge the overall merit of the highway scheme.