The Iconic Value of Infrastructure Projects: A case study to the iconic value of the Erasmus Bridge

The Iconic Value of Infrastructure Projects: A case study to the iconic value of the Erasmus Bridge

Heijnsdijk, R.

Mouter, N. (mentor)

Technology, Policy and Management

Transport & Logistics

2015-08-27

This study aims to provide insight in the iconic value of infrastructure projects by measuring the iconic value of the Erasmus Bridge in Rotterdam. This study was motivated by the lack of insight in iconic value in the appraisal of infrastructure projects aspiring to become iconic artifacts in Cost-Benefit Analysis. We designed a contingent valuation experiment, with two contingent scenarios and two respondent samples. One sample representing the inhabitants of the city of Rotterdam and one sample representing the inhabitants of the Netherlands excluding the inhabitants of Rotterdam. For both respondent samples significant (from zero) WTP estimates were found. Furthermore, people who virtually never use the Erasmus Bridge for transportation goals, or even see the Erasmus Bridge still have a WTP for the iconic value of the Erasmus Bridge. Allowing for uncertainties we estimated a lower bound and an upper bound for the total WTP for the iconic value of the Erasmus Bridge for inhabitants of the Netherlands. Regardless if we choose the lower bound (69.7 million euros) or the upper bound (95.7 million euros) the iconic value of the Erasmus Bridge is higher than the extra costs made in reality to build the Erasmus Bridge instead of a more conservative design (18 million euros). Hence, it can be concluded that the iconic value of infrastructure projects can be substantial, at least in the case of the Erasmus Bridge. Therefore iconic value should not be ignored in the CBA.

http://resolver.tudelft.nl/uuid:d9ee66a8-6c45-472a-b586-31b01d56836f

Student theses

master thesis

(c) 2015 Heijnsdijk, R.