A choice experiment approachin evaluating publictransportation projects

The necessity of applying cost benefit analysis in evaluating the validity of a public transportation project is well recognized by policy makers in recent days. Originating in this fact, we implement CBA in a new project called Osaka Monorail Saito Line Extension by applying a choice experiment approach. It is estimated that the benefit-cost ratio is 1.87 under a basic scenario. In addition, with a consideration on different kinds of uncertainty in the future, a number of sensitivity analyses are implemented. The results of sensitivity analyses indicate that the possibility of generating net benefit is extremely high for the project studied in this article.