A Novel Approach to Economic Evaluation of Infrastructure? Examining the Benefit Analyses in the Swedish High-Speed Rail Project

Ronnle, Erik (author): Lund University,Lunds universitet,Företagsekonomiska institutionen,Ekonomihögskolan,Department of Business Administration,Lund University School of Economics and Management, LUSEM

(creator_code:org_t)

Elsevier BV, 2017
2017
English 7 s.
In: Case Studies on Transport Policy. - : Elsevier BV. - 2213-624X. ; 5:3, s. 492-498

Related links:: http://dx.doi.org/10...; show more...; https://lup.lub.lu.s...; https://doi.org/10.1...; show less...

Abstract Subject headings

The purpose of this paper is to describe a novel approach to economic evaluation of infrastructure, the benefit analyses in the Swedish high-speed rail project, and to analyse what role these can play in the decision-making process. The reports identify benefits from infrastructure investment at the local level and were intended to assist in making co-financing agreements and as a basis for decisions on route-planning and prioritisation of public transport investments. The study finds that the benefit analyses are insufficient as decision bases as they double-count benefits, disregard costs, are methodologically inconsistent and lack comparability. Rather, they seem to fulfil the role of negotiation bids in a process that focuses on measuring the level of commitment and the willingness to contribute financially to the project. It seems that the new method increases the space for political manoeuvring which together with the one-sided focus on benefits risks worsening the optimism bias observed in mega-project planning.

The purpose of this paper is to describe a novel approach to economic evaluation of infrastructure, the benefit analyses in the Swedish high-speed rail project, and to analyse what role these can play in the decision-making process. The reports identify benefits from infrastructure investment at the local level and were intended to assist in making co-financing agreements and as a basis for decisions on route-planning and prioritisation of public transport investments. The study finds that the benefit analyses are insufficient as decision bases as they double-count benefits, disregard costs, are methodologically inconsistent and lack comparability. Rather, they seem to fulfil the role of negotiation bids in a process that focuses on measuring the level of commitment and the willingness to contribute financially to the project. It seems that the new method increases the space for political manoeuvring which together with the one-sided focus on benefits risks worsening the optimism bias observed in mega-project planning.

SAMHÄLLSVETENSKAP -- Statsvetenskap -- Studier av offentlig förvaltning (hsv//swe)
SOCIAL SCIENCES -- Political Science -- Public Administration Studies (hsv//eng)
SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)
SOCIAL SCIENCES -- Economics and Business -- Business Administration (hsv//eng)
TEKNIK OCH TEKNOLOGIER -- Samhällsbyggnadsteknik -- Infrastrukturteknik (hsv//swe)
ENGINEERING AND TECHNOLOGY -- Civil Engineering -- Infrastructure Engineering (hsv//eng)

About the subject

SOCIAL SCIENCES: SOCIAL SCIENCES; and Political Scienc ...; and Public Administr ...

SOCIAL SCIENCES: SOCIAL SCIENCES; and Economics and Bu ...; and Business Adminis ...

ENGINEERING AND TECHNOLOGY: ENGINEERING AND ...; and Civil Engineerin ...; and Infrastructure E ...

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