their implications for infrastructure economics and policy. Finally, we conclude that cost-benefit analysis stands in need … what if, in reality, estimates of costs and benefits are highly inaccurate and biased? Then the assumption that cost-benefit … analysis is a rational way to improve resource allocation would be a fallacy. Using the largest dataset of its kind, we test …

. When considering subsidy intervention, the social cost-benefit analysis shows a subsidy to all households on their purchase …