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Principles of social cost-benefit analysis of public road projects followed in South Africa

dc.contributor.authorPienaar, W. J.en_ZA
dc.date.accessioned2018-12-14T09:15:49Z
dc.date.available2018-12-14T09:15:49Z
dc.date.issued2018 -10 -12
dc.identifier.citationPienaar, W. J. 2018. Principles of social cost-benefit analysis of public road projects followed in South Africa. South African Journal of Industrial Engineering, 29(4):129-140, doi:10.7166/29-4-1926
dc.identifier.issn2224-7890 (online)
dc.identifier.issn1012-277X (print)
dc.identifier.otherdoi:10.7166/29-4-1926
dc.identifier.urihttp://hdl.handle.net/10019.1/105275
dc.descriptionCITATION: Pienaar, W. J. 2018. Principles of social cost-benefit analysis of public road projects followed in South Africa. South African Journal of Industrial Engineering, 29(4):129-140, doi:10.7166/29-4-1926.
dc.descriptionThe original publication is available at http://sajie.journals.ac.za
dc.description.abstractENGLISH ABSTRACT: This article discusses the most pertinent principles that underlie the preferred social cost-benefit analysis methodology to evaluate public road projects in South Africa. The ‘cost’ component of the analysis is the once-off investment cost sacrificed to establish a facility, and the ‘benefit’ component is the recurring reduction of disutility emanating from the operation, maintenance, and use of a facility. To determine future road-user benefits, the article develops a social surplus criterion that is termed ‘socio-economic user surplus’. A procedure is provided of the way that social cost-benefit analysis should be supplemented by the application of equity weighting, with a view to indicating both the expected allocative efficiency and distributive efficiency of a proposed road project. Lastly, the article discusses why the economic impacts that may stem from economically justified road projects are not considered in a social cost-benefit analysis.en_ZA
dc.description.urihttp://sajie.journals.ac.za/pub/article/view/1926
dc.format.extent12 pagesen_ZA
dc.language.isoen_ZAen_ZA
dc.publisherSouthern African Institute for Industrial Engineeringen_ZA
dc.subjectEconomic evaluationen_ZA
dc.subjectRoads -- Constructionen_ZA
dc.subjectCosts, Socialen_ZA
dc.titlePrinciples of social cost-benefit analysis of public road projects followed in South Africaen_ZA
dc.typeArticleen_ZA
dc.description.versionPublisher's version
dc.rights.holderAuthor retains copyrighten_ZA


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