A modest set of modifications to the COBA (cost benefit analysis) road transport project appraisal system is proposed. The scheme should be applied to a more comprehensive range of impacts, taking advantage of recent advances in environmental benefits assessment; both intra-generational and inter-generational equity considerations should be given more weight; appraisals should not be restricted to individual or competing road scheme projects, but should encompass all competing transport modes, as far as they are relevant options.
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Bateman et al. (1993) studied this question.
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