Ginés de Rus

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 resourcefor 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.

This thoroughly updated second edition incorporates key ideas and discussions on issues such as wider economic impacts, the treatment of risk and the importance of institutional arrangements in ensuring the correct use of technique. Ginés de Rus considers whether public decisions, such as investing in high-speed rail links, privatizing a public enterprise or protecting a natural area, may improve social welfare. Key features include:A comprehensive overview of the philosophy of the Cost-Benefit Analysis approach to appraisal to engage students with a basic model for informing responsible decision-makingExpert blending of relevant case studies with insightful analysis, enabling students to see the model's application to real-world scenariosAn accessible and readable style, which encourages classroom discussions as well as insights for the practical application of this economic tool. Introduction to Cost-Benefit Analysis is an ideal textbook for graduate and advanced undergraduate students of economics, engaging with important ideas and the latest thinking in the field. It will also benefit economists and practitioners involved in the economic evaluation of projects.

This thoroughly updated second edition incorporates key ideas and discussions on issues such as wider economic impacts, the treatment of risk and the importance of institutional arrangements in ensuring the correct use of technique. Ginés de Rus considers whether public decisions, such as investing in high-speed rail links, privatizing a public enterprise or protecting a natural area, may improve social welfare. Key features include:A comprehensive overview of the philosophy of the Cost-Benefit Analysis approach to appraisal to engage students with a basic model for informing responsible decision-makingExpert blending of relevant case studies with insightful analysis, enabling students to see the model's application to real-world scenariosAn accessible and readable style, which encourages classroom discussions as well as insights for the practical application of this economic tool. Introduction to Cost-Benefit Analysis is an ideal textbook for graduate and advanced undergraduate students of economics, engaging with important ideas and the latest thinking in the field. It will also benefit economists and practitioners involved in the economic evaluation of projects.