Highway Investment Analysis: The Next Generationby Regina McElroy, Federal Highway Administration, Washington, United States,
Abstract: The Department of Transportation has developed and is now testing a state-of-the-art modeling procedure which simulates highway improvement selection decisions based on the relative benefits/cost of merits of alternative improvement options. The newly developed Highway Economic Requirement System (HERS) uses incremental benefits /cost analysis to define the near optimal cost-effective set of appropriate improvement options given national-level policy scenarios. The purpose of this paper is to provide an overview of the HERS technique, particularly the incremental benefit/cost analysis process.
Subject Headings: Highways and roads | Model tests | Economic factors | Investments | Simulation models | Benefit cost ratios
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