Multi-criteria decision analysis for use in transport decision making

The most common methodology applied so far to the evaluation of transport systems has been conventional cost-benefit analysis (CBA) (Janic, 2003), which supported by traffic- and impact model calculations provides the decision-makers with a monetary assessment of the project’s feasibility. A socioeconomic analysis is in this respect a further development of the traditional CBA capturing the economic value of social benefits by translating social objectives into financial measures of benefits (Wright et al., 2009).