Towards improved handling of uncertainty in cost-benefit analysis: Addressing the ‘price-quality’ and ‘communication’ dilemmas

An important limitation of Cost-Benefit Analysis (CBA) is the inherent uncertainty in estimations of future welfare effects. In this paper, we argue that consideration of the ‘price-quality’ dilemma and the ‘communication’ dilemma is useful to explain and improve the handling of uncertainty in CBA. The ‘price-quality’ dilemma refers to the trade...

Improving traffic management through consideration of uncertainty and stochastics in traffic flow

In a bid to cost-effectively tackle congestion, traffic management is often seen as a key option to utilise road capacity. Prior to the application of traffic management measures, a-priori analysis allows the effectiveness of measures to be judged and where necessary adapted. However, current approaches do this without considering the effects...