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Title: Multi-criteria analysis in transport project evaluation : an institutional approach
Authors: De Brucker, Klaas ×
Macharis, Cathy
Verbeke, Alain #
Issue Date: Apr-2011
Series Title: European Transport vol:47 issue:April 2011 pages:3-24
Host Document: European Transport
Abstract: We demonstrate that multi-criteria analysis (MCA), though initially developed in the operations research field, can be usefully applied within the context of the stakeholder-driven or institutional approach to transport project evaluation. We first compare the features of the institutional and neo-classical approaches to economic evaluation. We then identify a number of conditions to be fulfilled for the institutional approach to result in a social optimum that is neutral from a distributional perspective. Such an optimum may not have been intentionally pursued, but may eventually arise as a by-product of the actions of self-interested, individual stakeholder groups. We illustrate the relevance of our approach through a number of recent case studies. Policy makers can use our findings as an input for designing formal decision-making processes, geared towards including stakeholder objectives in transport project evaluation.
ISSN: 1825-3997
Publication status: published
KU Leuven publication type: IT
Appears in Collections:Department of ECON-CEDON, Campus Brussels
Research Centre for Economics and Corporate Sustainability, Campus Brussels
Faculty of Economics and Business (FEB) - miscellaneous
× corresponding author
# (joint) last author

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