Highway Investment Analysis: The Next Generation

by Regina McElroy, Federal Highway Administration, Washington, United States,



Document Type: Proceeding Paper

Part of: Infrastructure: Planning and Management

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 | Economic factors | Model tests | Investments | Transportation studies | Simulation models

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