Cost-Benefit Analysis (CBA) has always been a controversial tool, generating accusations of unacceptable principle, improper application, inadequate evidence base and bias. So, transport appraisal in the UK is a hotly contested space, and the idea that transport CBA in the UK is somehow a stable, agreed concept is not true. What is true, however, is that there is a well codified history and development of practice which is discussed below. Before that, though, [Mackie] reviews some features of CBA which help to explain its controversial nature and its role in contributing to decision-making.
Finances & Economics