Identify social-economic factors used in cost-benefit analysis in transport infrastructure projects

Abstract

Transport infrastructure development plays a vital role in economic growth, thus evaluating and selecting “right” project investment is considered a key for local government. Generally, practitioners and scholars use the tools and techniques of cost-benefit analysis (CBA) for project evaluation but identifying cost-benefit factors considered social-economic aspects is a challenge for decision-makers. Thus, our research attempts to address this issue by reviewing the history of CBA development in the transport infrastructure domain from 1844 to 2022. Following the data published in more than one hundred studies, the authors provided a holistic picture of CBA development and a catalog of social-economic CBA used for transport infrastructure project evaluation.