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Cost–Benefit Analysis of Transport Investments: An Application to High-Speed Rail Investments

In: Economic Evaluation of Transport Projects

Author

Listed:
  • Ginés de Rus

    (University of Las Palmas de Gran Canaria
    University Carlos III of Madrid
    FEDEA)

  • M. Pilar Socorro

    (University of Las Palmas de Gran Canaria)

  • Jorge Valido

    (University of Las Palmas de Gran Canaria)

  • Javier Campos

    (University of Las Palmas de Gran Canaria)

Abstract

In this chapter, we use the cost-benefit analysis (CBA) to evaluate transport investments. In particular, we focus on high-speed rail (HSR) infrastructure projects. There are many social benefits associated with HSR. Although they are not always easy to identify and measure, they typically include time savings for passengers, fewer cars on the road (which can reduce congestion, accidents and air pollution), less intensive use of air transport, and reduced dependence on fuel and oil. HSR may also imply economies of agglomeration. However, most HSR projects require significant investment in infrastructure (with high and sunk construction costs), rolling stock, and maintenance. Operation costs can also be high due to the need for skilled personnel and energy consumption. Demand varies substantially between different corridors of the same length and similar infrastructure costs, with significant economic implications on the willingness to pay for capacity. All these reasons justify the need to carry out the social appraisal of HSR projects.

Suggested Citation

  • Ginés de Rus & M. Pilar Socorro & Jorge Valido & Javier Campos, 2023. "Cost–Benefit Analysis of Transport Investments: An Application to High-Speed Rail Investments," Springer Books, in: Economic Evaluation of Transport Projects, chapter 0, pages 43-66, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-35959-0_3
    DOI: 10.1007/978-3-031-35959-0_3
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