The Social Valuation of Road Schemes.

Road project appraisal in the UK is based upon the estimation of costs and benefits which in turn are predicted upon a series of techniques, assumptions and approaches. This paper examines a number of critical issues in road project appraisal, in particular the relation between 'economic' and 'environmental' costs and benefits. A social survey methodology is described which allows people to express their preferens between alternative road schemes in a much fuller way than is normally allowed in conventional studies of, for instance, value of time or environmental impact surveys. The findings of these surveys are discussed and their implications for road project appraisal outlined.