What is the evaluation period?
period of time over which the benefits and costs of a project will be measured. The evaluation period should
incorporate both the initial time taken to develop and build a project as well as decommissioning or disposal costs associated with its eventual closure at the end of its operating life
What elements make up RUC?
What elements make up agency costs?
What is an externality?
When a transaction (trip) takes place, it causes an impact on a 3rd party that was not directly involved in the transaction
• Can be positive (social benefits due to access to education / increased house
prices)
• Can be negative (pollution / noise)
Externalities in transport:
air pollution, GHG, noise, water, nature and landscape, urban separation