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TRB's National Cooperative Freight Research Program (NCFRP) Research Report 38: Guide for Conducting Benefit-Cost Analyses of Multimodal, Multijurisdictional Freight Corridor Investments explores how to conduct benefit-cost analyses (BCAs). A BCA is an analytical framework used to evaluate public investment decisions including transportation investments. BCA is defined as a collection of methods and rules for assessing the social costs and benefits of alternative public policies. It promotes efficiency by identifying the set of feasible projects that would yield the largest positive net benefits to society.

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Suggested Citation

National Academies of Sciences, Engineering, and Medicine. 2017. Guide for Conducting Benefit-Cost Analyses of Multimodal, Multijurisdictional Freight Corridor Investments. Washington, DC: The National Academies Press. https://doi.org/10.17226/24680.

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Publication Info

230 pages |  8.5 x 11 |  DOI: https://doi.org/10.17226/24680
Chapters skim
Front Matter i-viii
Introduction 1-9
Step 1 - Define the Project 10-18
Step 2 - Determine Scope of Analysis 19-24
Step 3 - Account for Project Costs 25-30
Step 4 - Identify Benefit Triggers and Metrics 31-39
Step 5 - Develop Forecasts 40-55
Step 6 - Quantify and Value Applicable First-Order Public and Private Metrics and Information Needs 56-75
Step 7 - Analyze Public Externalities and Information Needs (Safety and the Environment) 76-84
Step 8 - Analyze Higher-Order Quantifiable Metrics 85-94
Step 9 - Conduct BCA 95-103
Step 10 - Develop Decision Criteria and Report BCA Results 104-108
Step 11 - Evaluate and Integrate Risk and Uncertainty 109-118
References 119-122
Acronyms and Abbreviations 123-124
Appendix A - Rule of Half Principle, Consumer Surplus, Producer Surplus, Kaldor-Hicks Criterion, and Financial Versus Economic BCA 125-128
Appendix B - Projects with Different Service Lives (EANB and CMPD) 129-130
Appendix C - Residual Values 131-132
Appendix D - Logsum Evaluation, Diversion Parameters, and Examples 133-139
Appendix E - Benefits, Valuation Methodology, and Valuation Basis 140-141
Appendix F - Marginal External Costs of Highway Use 142-143
Appendix G - Shortcut for Analysis of Generated Traffic 144-144
Appendix H - Emission Factors and Emission Costs 145-146
Appendix I - Logistics Costs and Supply Chain Effects 147-149
Appendix J - Multiple Accounts BCA Example 150-151
Appendix K - Examples of Risk and Uncertainty 152-155
Appendix L - Heartland Corridor Case Study 156-198
Appendix M - Excel Worksheets 199-218

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