Abstract
This study assessed the feasibility and materiality of allowing for real-price changes in economic appraisals over the course of a transport project's appraisal period. The research found that time indexing unit cost parameters in transport CBA is feasible, and that benefit-cost ratios (BCRs) increase materially for the majority of project categories, but not for all. The report considers some of the issues involved, identifies the relative effects of various assumptions, and provides recommendations. (Author/publisher)