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The Barely Revealed Preference behind Road Investment Priorities

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  • Fridstrom, Lasse
  • Elvik, Rune
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    Abstract

    An attempt is made to reveal the preference of decision makers within the regional Norwegian public roads administration. The order of priority assigned to the respective, competing public road investment opportunities within the various countries (provinces) is studied by means of a rank order multinomial logit model. Explanatory variables used include cost, benefit, and a variety of attributes characterizing the individual investment projects. Although statistically significant, cost and benefit appear to be of only marginal importance for the priorities set. More weight is attached to cost than to benefit. Smaller projects are preferred to larger, given the benefit-cost ratio. In general, the models estimated are able to explain only a relatively small share of the priority setting made. Copyright 1997 by Kluwer Academic Publishers

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    Bibliographic Info

    Article provided by Springer in its journal Public Choice.

    Volume (Year): 92 (1997)
    Issue (Month): 1-2 (July)
    Pages: 145-68

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    Handle: RePEc:kap:pubcho:v:92:y:1997:i:1-2:p:145-68

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    Web page: http://www.springerlink.com/link.asp?id=100332

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    Cited by:
    1. Knut Sandberg Eriksen, 2011. "Do road investments lead to economic growth?," ERSA conference papers ersa10p1613, European Regional Science Association.
    2. Karine Nyborg & Inger Spangen, 1997. "Cost-Benefit Analysis and the Democratic Ideal," Discussion Papers 205, Research Department of Statistics Norway.
    3. Adanu, Kwami & Hoehn, John P. & Norris, Patricia & Iglesias, Emma, 2012. "Voter decisions on eminent domain and police power reforms," Journal of Housing Economics, Elsevier, vol. 21(2), pages 187-194.
    4. Nyborg, Karine, 2000. "Project analysis as input to public debate: Environmental valuation versus physical unit indicators," Ecological Economics, Elsevier, vol. 34(3), pages 393-408, September.
    5. Elvik, Rune, 2013. "Paradoxes of rationality in road safety policy," Research in Transportation Economics, Elsevier, vol. 43(1), pages 62-70.
    6. Leitham, Scott & McQuaid, Ronald W. & D. Nelson, John, 2000. "The influence of transport on industrial location choice: a stated preference experiment," Transportation Research Part A: Policy and Practice, Elsevier, vol. 34(7), pages 515-535, September.
    7. Nyborg, Karine, 2014. "Project Evaluation with Democratic Decision-making: What Does Cost-benefit Analysis Really Measure?," Memorandum 08/2014, Oslo University, Department of Economics.

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