S-WoPEc
 
Scandinavian Working Papers in Economics
HomeAboutSeriesSubject/JEL codesAdvanced Search
CTS - Centre for Transport Studies Stockholm (KTH and VTI)
CTS - Centre for Transport Studies Stockholm (KTH and VTI) CTS - Centre for Transport Studies Stockholm (KTH and VTI)
Working papers in Transport Economics

No 2013:31:
On timetable assumptions in railway investment appraisal

Jonas Eliasson () and Maria Börjesson ()

Abstract: The benefits captured in an appraisal of a railway investment are determined by what timetables the analyst assumes in the scenarios with and without the investment. Without an explicit, objective and verifiable principle for which timetables to assume, the appraisal outcome is virtually arbitrary. This means that appraisals of railway investments cannot be compared to each other, and opens the door for strategic behaviour by stakeholders conducting seemingly objective cost-benefit analysis. We explain and illustrate the nature and extent of the problem, and discuss the practical consequences for appraisal comparability and conscious or unconscious misrepresentation. Finally, we discuss possible objective principles for appraisal timetable construction and contrast this with current practice, which is shown to be likely to exaggerate investment benefits in an appraisal.

Keywords: Cost-benefit analysis; Appraisal; Railway investments; Timetables; (follow links to similar papers)

JEL-Codes: R40; (follow links to similar papers)

21 pages, October 28, 2013

Previously published in: Proceedings of the 2011 Conference and the Summer School, Stockholm, Sweden, June 29, 2011. And in: TRB 91st Annual Meeting Compendium of Papers DVD, 2012, Paper no: 12-2124.

Before downloading any of the electronic versions below you should read our statement on copyright.
Download GhostScript for viewing Postscript files and the Acrobat Reader for viewing and printing pdf files.

Full text versions of the paper:

CTS2013-31.pdf    PDF-file
Download Statistics
This paper is published as:
Eliasson, Jonas and Maria Börjesson, (2014), 'On timetable assumptions in railway investment appraisal', Transport Policy, Vol. 36, pages 118-126



Questions (including download problems) about the papers in this series should be directed to Mats Berggren ()
Report other problems with accessing this service to Sune Karlsson () or Helena Lundin ().

Programing by
Design by Joachim Ekebom

Handle: RePEc:hhs:ctswps:2013_031 This page was generated on 2014-12-14 19:22:09