Evaluation of transportation improvements by conventional benefit-cost analysis raises the problem of trying to evaluate benefits /or costs/ which cannot readily be converted to dollars and cents. Sometimes these benefits are neglected. Sometimes they are converted to dollars no matter how crude the estimate. Most often they are merely qualitatively weighed-in-the-mind to determine whether or not they are sufficient to alter the decision recommended by the economic analysis based on the quantifiable factors. To help in these situations, a technique or framework is presented which would treat all pertinent factors more rationally and systematically. Examples are presented showing the results of the technique at each intermediate step. An extension of the technique is made to consider a system of possible projects and the optimal allocation of available capital among them. This extension results in a problem which may be solved by integer linear programming techniques. The formulation of this linear program is also shown. /author/.
Samenvatting