Social Cost-Benefit Analysis of HL-LHC

Bastianin, Andrea; Florio, Massimo

doi:10.2139/ssrn.3202220

Cited by 11 publications

(7 citation statements)

References 21 publications

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“…A preliminary cost-benefit-analysis of the LHC/HL-LHC programme [435] revealed that more than the impact value generated by training coresponds to more than one third of the infrastructure's cost (sum of captital and operation expenditures). The ICT sector represents an ideal case for training at large with ever growing societal and industrial demands.…”

Section: Communications Computing and Data Servicesmentioning

confidence: 99%

“…It is based on the assumption that the average annual voluntary contribution per year and person is 1.5 euro. For the LHC/HL-LHC programme this very conservative, lower-bound discounted estimate represents about ∼12% of the total forecast impact [435]. However, a recent survey among French taxpayers [601],…”

Section: Cultural Effectsmentioning

confidence: 99%

“…A preliminary, quantitative study of the LHC/HL-LHC project using this method has been carried out [435]. This work serves as a foundation for a dedicated Cost-Benefit-Analysis of one particular future collider scenario that needs to be carried out at an early stage of the preparatory phase.…”

Section: Introductionmentioning

confidence: 99%

“…The result reveals that the estimated Net Present Value (NPV) for the entire, combined LHC/HL-LHC programme over a period of 45 years (from 1993 to 2038) is positive, taking into account an annual social discounting rate of 3%. The likelihood of generating benefits of up to 5 billion CHF over the life of the programme is 80% [435]. This shows that a research facility like the FCC can generate added value for both industry and society.…”

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

FCC-ee: The Lepton Collider

Abada¹,

Abbrescia²,

AbdusSalam³

et al. 2019

Eur. Phys. J. Spec. Top.

677

511

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Section: Communications Computing and Data Servicesmentioning

confidence: 99%

Section: Cultural Effectsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

FCC-ee: The Lepton Collider

Abada¹,

Abbrescia²,

AbdusSalam³

et al. 2019

Eur. Phys. J. Spec. Top.

677

511

View full text Add to dashboard Cite

show abstract

“…Interpretation of results is straightforward: a RI passes the CBA test when the cumulative sum of discounted social benefits (DB) exceeds the cumulative sum of discounted social costs (DC), that is when the expected NPV is greater than zero. See Bastianin and Florio [13] for further details.…”

Section: Methodsmentioning

confidence: 99%

Findings from the LHC/HL-LHC Programme

Bastianin

2020

The Economics of Big Science

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This note summarizes the results of a social Cost–Benefit Analysis (CBA) of the High Luminosity upgrade of the Large Hadron Collider (HL-LHC). The social CBA methodology is well-suited to assess social costs and benefits of the HL-LHC up to 2038. The analysis shows that the ratio between incremental benefits and incremental costs of the HL-LHC with respect to operating the LHC under normal consolidation (i.e. without high-luminosity upgrade) is slightly over 1.7, meaning that each Swiss Franc invested in the HL-LHC upgrade project pays back approximately 1.7 CHF in societal benefits. The rest of the note is organized as follows. We first discuss the merits of CBA; next, we present the methodology and discuss the results.

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Large-Scale Investment in Science: Economic Impact and Social Justice

Florio

2020

The Economics of Big Science

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Science is not a free lunch. Worldwide, R&D expenditures per year, from basic research to product development by firms, are about USD1.7 trillion (according to UNESCO estimates for 2017). There are perhaps 7.8 million professional researchers globally, around one researcher out of one thousand inhabitants of the planet. In the OECD area, which includes the most developed economies, government R&D spending is worth about USD 315 billion per year and the share of government of the total R&D expenditures is 28%. Hence, citizens support research in two ways: firstly, as consumers by paying a price for goods and services which in turn include in their production costs such expenditures; secondly, by paying taxes which support government R&D expenditures, mostly for basic science. In this short essay, I discuss two questions: What is the economic impact of basic research? What are the implications for social justice of the interplay between -on one side- government funded science and -on the other side- R&D supported by business? I will argue that the ultimate economic impact of large-scale investment in basic research is often (but not always) positive (i.e. benefits are greater than costs). There is, however, a potential concern for social justice arising from the private appropriation by business of rents arising from knowledge as a public good.

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Social Cost-Benefit Analysis of HL-LHC

Cited by 11 publications

References 21 publications

FCC-ee: The Lepton Collider

FCC-ee: The Lepton Collider

Findings from the LHC/HL-LHC Programme

Large-Scale Investment in Science: Economic Impact and Social Justice

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