Transport infrastructure projects in The Netherlands are appraised ex ante by using cost-benefit analysis (CBA) procedures following the so-called ‘OEI-guidelines’. The project benefits for travellers are incorporated in the form of changes in demand (e.g. from the Dutch national model...

Transport investments normally reduce travel times, but may also reduce unreliability. Conventional time gains can be evaluated in cost benefit analysis using standard values of time. For valuing reliability gains, however, no standard measures are readily available. The Dutch Ministry of...