Cost-benefit analysis (CBA) is the most popular evaluation tool in economics. However, it is widely recognised that one of its main limitations is the impossibility of splitting efficiency and equity issues. The present paper, from an economic theoretical point of view, will present a...

Weitzman (2012, 2013) has suggested a method for calculating social discount rates for long-term investments when project returns are covariant with consumption or other macroeconomic variables, so called "tail-hedge discounting". This method relies on a parameter called "real project gamma"...

This paper shows and analyzes the deterioration of net social benefits from Line 3 of the Light Rail in Guadalajara, Mexico, which took place even before Line 3 began its operational life. According to this ex-post evaluation, this light rail project has performed worse than the average...

This paper performs an ex-post cost-benefit analysis (CBA) of the Metro system in Stockholm built in the 1950s. We find that the Metro was socially beneficial and that the largest benefit of the Metro is its capacity, making it possible for many people to travel to and from the city center. We...