Economic Evaluation of Transport Projects

This book is a guide to the economic evaluation of transport policies and investment projects through cost-benefit analysis (CBA). It covers the CBA of transportation projects and policies, and introduces the fundamental concepts of CBA before considering their application in real-world settings.
A distinct focus of the book is on the practical applications of CBA. It includes real-world examples of CBA, such as high-speed rail investment and the subsidization of air transport, which illustrate the importance of using a rigorous analytical framework to evaluate transport projects and policies.

The primary objective of this book is to present a basic model for the evaluation of transport projects and policies, with explicit assumptions and practical evaluation rules derived from it. The rules and measurement criteria derived from this model are applied to the examples mentioned above.

Overall, this book is an excellent resource for students, practitioners, and policymakers involved in transport economics and evaluation, as it provides a comprehensive understanding of the principles and applications of CBA in the transport sector.

Ginés de Rus, Ph.D. in Economics, University of Leeds (U.K), is Professor of Economics at the Universidad de Las Palmas de Gran Canaria and Professor of Cost-Benefit Analysis at the Universidad Carlos III de Madrid, as well as Associate Researcher in FEDEA. He has published extensively on the economics of infrastructure and transport, as well as economic evaluation of projects and public policies. He has collaborated as an external expert on cost-benefit analysis for the European Commission, the Asian Development Bank, the European Investment Bank, and the Inter-American Development Bank.

M. Pilar Socorro, Ph.D. in Economics, Universitat Autònoma de Barcelona (Spain), is Associate Professor of Economics at the Universidad de Las Palmas de Gran Canaria. Her main research interest is related to economic modelling in the fields of transport economics, contract theory, and industrial organization, having published several articles in high-impact transport economic journals. She has also participated in several national and international projects financed, among others, by the European Commission, the European Investment Bank or the Inter-American Development Bank.

Jorge Valido, Ph.D. in Economics, is Associate Professor of Economics at the Universidad de Las Palmas de Gran Canaria. His main research fields are economic evaluation, regulation, and transport economics. He has published on the economics of infrastructure and transport, as well as economic evaluation of projects and public policies. He has collaborated as External Expert on economic evaluation for, among others, the European Investment Bank or the Inter-American Development.

Javier Campos, Ph.D. in Economics, is Associate Professor of Economics at the Universidad de Las Palmas de Gran Canaria. His current research area is the empirical and theoretical analysis of competition and regulation in infrastructure sectors. He studied at the London School of Economics (M.Sc. in Economics, 1992) and CEMFI (Ph.D. in Economics, 1996). He has also worked as Consultant for The World Bank and the Inter-American Development Bank, where he has gained field experience on regulatory policies and infrastructure reform in Latin America.