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Do Cost-Benefit Analyses Influence Transport Investment Decisions?: Experiences from the Swedish Transport Investment Plan 2010-21
KTH, School of Architecture and the Built Environment (ABE), Centres, Centre for Transport Studies, CTS.ORCID iD: 0000-0003-1789-9238
KTH, School of Architecture and the Built Environment (ABE), Centres, Centre for Transport Studies, CTS.
2012 (English)In: Transport reviews, ISSN 0144-1647, E-ISSN 1464-5327, Vol. 32, no 1, 29-48 p.Article in journal (Refereed) Published
Abstract [en]

Cost-benefit analysis (CBA) for transport investments is particularly useful for situations where a large number of investments have to be ranked against each other. This study draws on experiences from the development of the Swedish National Transport Investment Plan 2010-21. We study how CBA results were used in the process of shaping the investment plan and what influence they had on investment decisions. In particular, we compare the planners' rankings versus the politicians' rankings. We find that planners' rankings of investments are influenced by benefit-cost ratios (BCRs), in particular for low and moderate BCRs, while the politicians' rankings are not. By interviewing planners about how CBA was used in the process, we clarify what role CBA actually played in the planning process. We find that not only did the CBAs play a role in investment selection, they also forced investment design to be more cost-efficient. Furthermore, we explore planners' implicit valuations, as revealed by their investment selection, finding that freight benefits were implicitly valued higher and traffic safety lower than the officially recommended CBA weights. Finally, we identify the most important areas for improvement of CBA state-of-practice methodology.

Place, publisher, year, edition, pages
2012. Vol. 32, no 1, 29-48 p.
National Category
Transport Systems and Logistics
URN: urn:nbn:se:kth:diva-77193DOI: 10.1080/01441647.2011.582541ISI: 000302564300003ScopusID: 2-s2.0-84857969640OAI: diva2:491417
TrenOp, Transport Research Environment with Novel Perspectives
QC 20120509Available from: 2012-02-06 Created: 2012-02-06 Last updated: 2012-06-11Bibliographically approved

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Eliasson, JonasLundberg, Mattias
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