A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
On timetable assumptions in railway investment appraisal
https://orcid.org/0000-0003-1789-9238
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, discuss possible timetable construction principles, and show that current practice is likely to exaggerate appraisal benefits.
Highlights Railway appraisal results are determined by timetable assumptions. An explicit timetable principle is necessary to ensure well-defined appraisals. The principle should be explicit, objective, and verifiable to ensure comparability. Lack of transparency allows strategic behaviour by stakeholders and analysts. Current appraisal practice is likely to exaggerate benefits.
On timetable assumptions in railway investment appraisal
https://orcid.org/0000-0003-1789-9238
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, discuss possible timetable construction principles, and show that current practice is likely to exaggerate appraisal benefits.
Highlights Railway appraisal results are determined by timetable assumptions. An explicit timetable principle is necessary to ensure well-defined appraisals. The principle should be explicit, objective, and verifiable to ensure comparability. Lack of transparency allows strategic behaviour by stakeholders and analysts. Current appraisal practice is likely to exaggerate benefits.
On timetable assumptions in railway investment appraisal
https://orcid.org/0000-0003-1789-9238
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, discuss possible timetable construction principles, and show that current practice is likely to exaggerate appraisal benefits.
Highlights Railway appraisal results are determined by timetable assumptions. An explicit timetable principle is necessary to ensure well-defined appraisals. The principle should be explicit, objective, and verifiable to ensure comparability. Lack of transparency allows strategic behaviour by stakeholders and analysts. Current appraisal practice is likely to exaggerate benefits.
On timetable assumptions in railway investment appraisal
Eliasson, Jonas (author) / Börjesson, Maria (author)
Transport Policy ; 36 ; 118-126
2014-01-01
9 pages
Article (Journal)
Electronic Resource
English
On timetable assumptions in railway investment appraisal
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