Abstract
The benefits and costs to be included in the cost-benefit analysis of a transport project are considered. While some impacts of a project cannot easily have a monetary value assigned to them (social and environmental concerns), they should be included without assuming that they are of no value. Different measures of cost efficiency are compared. When comparing cost-benefit analyses from different countries, the basis for the analysis needs to be accounted for, particularly the rate of discount and the evaluation period. The impact of traffic forecasts, time saving benefits, and willingness to pay is considered.