A MODEL FOR THE ECONOMIC EVALUATION OF RURAL ROAD IMPROVEMENTS

Abstract

THIS PAPER DESCRIBES A STUDY OF COMPUTER-BASED MODEL FOR ASSESSING THE COSTS AND BENEFITS ASSOCIATED WITH ROAD IMPROVEMENTS IN RURAL AREAS. THE STUDY IS STILL PROCEEDING AND THIS PAPER IS AN INTERIM REPORT ON THE MODEL AT ITS CURRENT STAGE OF DEVELOPMENT. THE MODEL FINDS THE ECONOMIC OPTIMAL SCHEDULE OF IMPROVEMENTS TO A ROAD OF SPECIFIED CONDITION AND TRAFFIC CHARACTERISTICS, OVER A PLANNING PERIOD INITIALLY SET AT 20 YEARS. THE PAPER DISCUSSES ALTERNATIVE INVESTMENT CRITERIA AND THE REASONS FOR USING AS THE CRITERION, NET PRESENT VALUE IN THE FORM OF MINIMUM TOTAL DISCOUNTED TRANSPORT COSTS. THE GENERAL STRUCTURE OF THE MODEL AND THE USE OF DYNAMIC PROGRAMMING TO FIND THE OPTIMAL SCHEDULE IS DESCRIBED. SUBMODELS OF CONSTRUCTION AND MAINTENANCE COSTS HAVE BEEN DEVELOPED AND ADJUSTMENTS MADE TO THE PELENSKY DATA ON VEHICLE USER COSTS. THE PRESENCE OF BUDGET LIMITS HAS BEEN HANDLED BY INCORPORATING THE USE OF LAGRANGE MILTIPLIERS TO INDICATE OPTIMAL SHCEDULES WHEN BUDGETS ARE CONSTRAINED. THE USES OF THE MODEL ARE DISCUSSED AND SOME PRELIMINARY RESULTS OF SENSITIVITY TESTS ARE PRESENTED. THE CONCLUSION SURVEYS THE MODEL DEVELOPMENT TO DATE AND DESCRIBES THE CURRENT EXTENSION WORK. /AUTHOR/

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