Limits to CBA in UK and European environmental policy: retrospects and future prospects

Turner, R. Kerry

doi:10.1007/s10640-007-9119-2

Cited by 95 publications

(85 citation statements)

References 65 publications

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“…Additionally, it has fulfilled the objectives for an assessment method set out by Giorgi and Tandon (2002) as it has been demonstrated that SUMINI: is applicable at project level, but may also be applied at programme or policy levels in the future can be applied ex-post but also has the potential to be applied exante given the improved accuracy of forecasting methods and models can operate both in a qualitative and a quantitative context since it relies on both statistical and softer methods Moreover the method has been shown to both work well alongside CBA and yet to perform more favourably than that approach in the evaluation of wider economic benefits, confirming that the role of CBA will become less prescriptive in the future (Turner 2007).…”

Section: Overall Evaluation Of the Sumini Methodsmentioning

confidence: 97%

Incorporating equity as part of the wider impacts in transport infrastructure assessment: an application of the SUMINI approach

Thomopoulos

Grant-Muller

2012

Transportation

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The state of the art in appraisal of transport infrastructure (particularly for developed countries) is moving towards inclusivity of a set of wider impacts than has traditionally been the case. In appraisal frameworks generally Multi-Criteria Analysis (MCA) features as either an alternative to, or complementary with, Cost Benefit Analysis (CBA) particularly when assessing a wider set of distributional and other impacts. In that respect it goes some way towards addressing an identified weakness in conventional CBA. This paper proposes a new method to incorporate the wider impacts into the appraisal framework (SUMINI) based upon a composite indicator and MCA. The method is illustrated for a particular example of the wider set of impacts, i.e. equity, through the ex-post assessment of two large EU transport infrastructure (TEN-T) case studies. The results suggest that SUMINI assesses equity impacts well and the case studies highlight the flexibility of the approach in reflecting different policy or project objectives. The research concludes that this method should not be viewed as being in competition with traditional CBA, but that it could be an easily adopted and complementary approach. The value in the research is in providing a new and significant methodological advance to the historically difficult question of how to evaluate equity and other wider impacts. The research is of strong international significance due to the publication of the TEN-Ts review by the European Commission, as well as the transnational nature of large scale interurban transport schemes, the involvement of national and transnational stakeholder groups in the approval and funding of those schemes, the large numbers of population potentially subject to equity and other wider impacts and the degree of variation in the regional objectives and priorities for transport decision makers.

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Section: Overall Evaluation Of the Sumini Methodsmentioning

confidence: 97%

Incorporating equity as part of the wider impacts in transport infrastructure assessment: an application of the SUMINI approach

Thomopoulos

Grant-Muller

2012

Transportation

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“…This makes it hard for stakeholders to conduct what-if analysis and sensitivity analysis with respect to the key model parameters. Secondly, the implementation of CBA tends to be formulaic and prescriptive [35] and devoid of systems thinking, and, as such, it is easy for practitioners to miss important social, environmental, and even economic factors. Thirdly, CBA is essentially a functionalist and often reductionist approach that seeks to provide optimal answers to investment problems through the work of expert analysts.…”

Section: Literature Reviewmentioning

confidence: 99%

Application of System Dynamics to Evaluate the Social and Economic Benefits of Infrastructure Projects

Nguyen

Cook

Ireland

2017

Systems

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Cost-Benefit Analysis (CBA) is often employed to inform decision makers about the desirability of transport infrastructure investment options. One of the main limitations of traditional CBA approaches is that they do not provide a dynamic view that explicitly illustrates the cost and benefit relationships between component entities over time. This paper addresses this issue by describing a System Dynamics (SD) approach that can perform transport infrastructure CBA through the application of systems thinking to develop a causal-loop model that can subsequently be operationalised into an executable stock-and-flow model. Execution of this model readily enables sensitivity analysis of infrastructure investment options and visualisation of the cost-benefit behaviour of each variant over time. The utility of the approach is illustrated through a case study, the Co Chien Bridge project in Vietnam, using a model that incorporates conventional economic metrics and factors that measure indirect project benefits, such as impact on gross domestic product, unemployment rate, and total taxes gained from affected economic sectors.

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“…coastal wetland creation, restoration, or maintenance within a coastal defence or protection strategy). Instead it tends to favour projects that have immediate benefi ts and delayed cost burdens (Turner 2007 ). But while a low discount rate favours the future, this may be politically and morally questionable if immediate wellbeing increases are slowed or compromised altogether and the burden falls disproportionately on the poor.…”

Section: Discounting Ethics Equity and Distributional Considerationsmentioning

confidence: 99%

Valuation of Ecosystem Services

Turner

Schaafsma

2015

Studies in Ecological Economics

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Limits to CBA in UK and European environmental policy: retrospects and future prospects

Cited by 95 publications

References 65 publications

Incorporating equity as part of the wider impacts in transport infrastructure assessment: an application of the SUMINI approach

Incorporating equity as part of the wider impacts in transport infrastructure assessment: an application of the SUMINI approach

Application of System Dynamics to Evaluate the Social and Economic Benefits of Infrastructure Projects

Valuation of Ecosystem Services

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