This paper discusses a number of issues centred around the evaluation of the benefits and costs of transport. It is argued that, for various reasons, transport cannot be treated as an ‘ordinary’ economic sector, and in the paper the policy implications of a number of the sector’s...

Purpose: The purpose of this paper is to deal with one of the technical difficulties of private and social cost–benefit analysis, i.e. the choice of the proper cost–benefit aggregation rule (or method) to use, when a private capital investment decision has to be taken or a public project...