BibTex RIS Cite
Year 2010, Volume: 10 Issue: 4, 1279 - 1287, 01.11.2010

Abstract

References

  • Adler, A. H.(1975) Ulaştirma Projelerinin Ekonomik Değerlendirilmesi Örnek Etüdleri. Translated by Cahit Yalgın. General Directorate of Highways Publications, Ankara.
  • Anguera, R. (2006) The Channel Tunnel--an ex post economic evalua- tion. Transportation Research Part A: Policy and Practice, Volume 40, Issue 4, 291-315.
  • Boadway, R. (2006) Principles of cost-benefit analysis. Public Policy Re- view. Vol.2, No.1.
  • Cakır, T. (1999) Türkiye’de Kamu Ekonomisince Üretilen Karayolları Hizmetlerinde Fayda-Maliyet Analizi Tekniğinin Uygulanabilirliği. Anadolu Üniversitesi Yayınları, Eskişehir.
  • Adler, M. D. and Posner, A., E. (1999) Rethinking cost-benefit analysis. The Yale Law Journal. No.109.
  • Ellerman, D. (2004) On a difficulty in welfare economics: numeraire illusion in the Marshall-Pigou-Kaldor-Hicks methodology. University of California at Riverside Working Paper.
  • Florio, M. and Vignetti, S. (2003) Cost-Benefit Analysis of Infrastruc- ture Projects in an Enlarged European Union: An Incentive-Oriented Approach.
  • Fosgerau, M. and Pilegaard, N. (2007) Cost-Benefit Rules for Transport Projects When Labor Supply is Endogenous and Taxes are Distortion- ary. MPRA.
  • GDHa, (2009) 2009Yılı Otoyollar Bakim-Işletme ve Ücret Toplama Maliyetleri, Ulaşım ve Maliyet Etüdleri Şubesi Müdürlüğü, http:// www.kgm.gov.tr/SiteCollectionDocuments/KGMdocuments/Istatis- tikler/YapimBakimIsletmeMaliyet/2008%20Yılı%20Otoyollar%20 Bakım%20-%20İşletme%20ve%20Ücret%20Toplama%20Mali- yetleri%20.pdf,08.07.2010
  • GDH (2010), http://www.kgm.gov.tr/SiteCollectionDocuments/KG- Mdocuments/Istatistikler/YapimBakimIsletmeMaliyet/otoyolmali- yet2009.pdf, 15.07.2010
  • GDH (2008), http://www.kgm.gov.tr/kaza2k.doc, 21.07.2008
  • GDHb, ( 2010) 2009 Trafik ve Ulaşim Bilgileri: Otoyollar ve Devlet Yollarinin Trafik Dilimlerine Göre Yillik Ortalama Günlük Trafik Değerleri ve Ulaşim Bilgileri, Strateji Geliştirme Daire Başkanliği Ulaşim ve Maliyet Etütleri Şubesi Müdürlüğü, http://www.kgm.gov. tr/SiteCollectionDocuments/KGMdocuments/Istatistikler/Trafikve UlasimBilgileri/09TrafikUlasimBilgileri.pdf 15.07.2010 http://www. kgm.gov.tr/Sayfalar/KGM/SiteTr/Istatistikler/TrafikUlasimBilgileri. aspx, 15.07.2010
  • GDHc, Karayolları Genel Müdürlüğü Stratejik Planlama Şubesi Müdürlüğü.(2007) Karayolu Planlaması Bilgileri El Kitabı. (GDH, Department of Strategic Planning: Handbook for Motorway Plan- ning).
  • GDH, Karayolları Genel Müdürlüğü. (2006) Anadolu Otoyolu Gümüşova-Gerede Kesimi İnşaat Kontrolu Mühendislik Hizmetleri İş İlerleme Raporu, Yüksel Proje.
  • Heinzerling, L. and Ackerman, F. (2002) Pricing the priceless: Cost-Ben- efit analysis of environmental protection. Georgetown Environmental Law and Policy Institute.
  • Hensher, D. A., Rose, J. M., Ortuzar, J. and Rizzi, L. I. Estimating the willingness to pay and value of risk reduction for car occupants in the road environment. Transportation Research Part A: Policy and Prac- tice, In Press, Corrected Proof (www.sciencedirect.com/science/arti- cle/B6VG7-4WP4BF4-1/2/f0c5f0a1b3d2c7b9b5204e1bcd16d2f5).
  • Jiang, M., Morikawa, T. (2004) Theoretical analysis on the variation of value of travel time savings, Transportation Research Part A: Policy and Practice, Volume 38, Issue 8, 551-571.
  • Kula, E. (2006) The social discount rate in cost-benefit analysis: the Brit- ish experience and lessons to be learned. Milan European Economy Workshops Working Paper.
  • Lundholm, M. (2005) Cost – Benefit analysis and the marginal cost of public funds. Department of Economics, Stockholm University.
  • Lyons, G., Jain, J. and Holley, D. (2007) The use of travel time by rail passengers in Great Britain, Transportation Research Part A: Policy and Practice, Volume 41, Issue 1, 107-120
  • Mishan, E.J.(1975) Cost-Benefit Analysis; An Informal Introduction, 2nd edit, Gresham Press, London.
  • Murty, M.N., Dhavala, K. K, Ghosh, M. and Singh, R.(October,2006) Social cost-benefit analysis of Delphi Metro. MPRA, No.1658
  • Nas, T. (1996) Cost Benefit Analysis Theory and Application. Sage Pub- lications, California. p.57
  • Nijkamp, P., Ubbels B. and Verhoef, E. (2002) Transport investment appraisal and the environment. Tinbergen Institute Dsicussion Paper.
  • OIM, Benefit Cost Analysis for Transportation Projects, Mn/DOT Ben- efit Cost Analysis Guidance (June 2005) (http://www.oim.dot.state. mn.us/EASS/, 20/07/2008).
  • Ozkan, N. (2000) Refinement of benefit cost analysis results for high- way projects. Ph.D Thesis, METU Department of Civil Engineering. p:18,63,75,76.
  • Panayotou, T. (September,2000) Basic concepts and common valuation errors in cost-benefit analysis. International Development Research Cen- tre. Ottowa. p: 10.
  • Proost, S., Van der Loo, S., De Palma A. and Lindsey, R., (2005) A Cost-Benefit Analysis of tunnel investment and tolling alternatives in Antwerp. Katholieke University Of Leuven Center For Economic Studies Working Papers.
  • Quinet, E. (2006) Transport cost benefit analysis in France: Recent changes, progress and shortcomings. Milan European Economy Workshops Working Paper. p:13.
  • Sugden, R. and Williams, A. (1978) The Principles of Practical Cost- Benefit Analysis. Oxford University Press, Britain.
  • Unsal, H. (2004) Kamu hizmetlerinin planlanmasinda fayda-maliyet analizi ve uygulanabilirliği, (Cost benefit analysis of public services planning and its applicability). Gazi University Social Sciences Institute Journal, No:1.p:1.
  • Watkins, T. An introduction to cost benefit analysis. San José State Uni- versity Department of Economics, Silicon Valley & Tornado Alley USA.
  • Weber, A. T. (2003) An exact relation between willingness to pay and willingness to accept. Economics Letters.
  • Weisbrod, E.G. and Beckwith J. (1992) Measuring economic develop- ment benefits for highway decision-making: The Wisconsin Case. Transportation Quarterly, Vol.46., No.1.
  • Zerbe, O. R. Ethical benefit-cost analysis. The Evans School of Public Affairs and The Law School, The University of Washington.

An Ex-Post Cost - Benefit Analysis of Bolu Mountain Tunnel Project

Year 2010, Volume: 10 Issue: 4, 1279 - 1287, 01.11.2010

Abstract

This paper analyzes the feasibility of Bolu Mountain Tunnel which is one of the most costly highway projects in Turkey. The project continued for about seventeen years and opened to use in 2007. Internal Rate of Return concept is used as a decision rule to asses the net benefit stream of the project. As the tunnel construction had not finished at the deadline planned by the earliest project appraisal, the necessity of tunnel construction became controversial among the society as it requires high investment costs which are withdrawn from other resources of the economy. The analysis is conducted for a 50 year period. According to the results, Bolu Mountain Tunnel project is not economically feasible since the Net Present Value of the project is highly negative at % 12 discount rate level. The NPV and IRR figures are recalculated under different scenarios but even in the best case the figures are negative

References

  • Adler, A. H.(1975) Ulaştirma Projelerinin Ekonomik Değerlendirilmesi Örnek Etüdleri. Translated by Cahit Yalgın. General Directorate of Highways Publications, Ankara.
  • Anguera, R. (2006) The Channel Tunnel--an ex post economic evalua- tion. Transportation Research Part A: Policy and Practice, Volume 40, Issue 4, 291-315.
  • Boadway, R. (2006) Principles of cost-benefit analysis. Public Policy Re- view. Vol.2, No.1.
  • Cakır, T. (1999) Türkiye’de Kamu Ekonomisince Üretilen Karayolları Hizmetlerinde Fayda-Maliyet Analizi Tekniğinin Uygulanabilirliği. Anadolu Üniversitesi Yayınları, Eskişehir.
  • Adler, M. D. and Posner, A., E. (1999) Rethinking cost-benefit analysis. The Yale Law Journal. No.109.
  • Ellerman, D. (2004) On a difficulty in welfare economics: numeraire illusion in the Marshall-Pigou-Kaldor-Hicks methodology. University of California at Riverside Working Paper.
  • Florio, M. and Vignetti, S. (2003) Cost-Benefit Analysis of Infrastruc- ture Projects in an Enlarged European Union: An Incentive-Oriented Approach.
  • Fosgerau, M. and Pilegaard, N. (2007) Cost-Benefit Rules for Transport Projects When Labor Supply is Endogenous and Taxes are Distortion- ary. MPRA.
  • GDHa, (2009) 2009Yılı Otoyollar Bakim-Işletme ve Ücret Toplama Maliyetleri, Ulaşım ve Maliyet Etüdleri Şubesi Müdürlüğü, http:// www.kgm.gov.tr/SiteCollectionDocuments/KGMdocuments/Istatis- tikler/YapimBakimIsletmeMaliyet/2008%20Yılı%20Otoyollar%20 Bakım%20-%20İşletme%20ve%20Ücret%20Toplama%20Mali- yetleri%20.pdf,08.07.2010
  • GDH (2010), http://www.kgm.gov.tr/SiteCollectionDocuments/KG- Mdocuments/Istatistikler/YapimBakimIsletmeMaliyet/otoyolmali- yet2009.pdf, 15.07.2010
  • GDH (2008), http://www.kgm.gov.tr/kaza2k.doc, 21.07.2008
  • GDHb, ( 2010) 2009 Trafik ve Ulaşim Bilgileri: Otoyollar ve Devlet Yollarinin Trafik Dilimlerine Göre Yillik Ortalama Günlük Trafik Değerleri ve Ulaşim Bilgileri, Strateji Geliştirme Daire Başkanliği Ulaşim ve Maliyet Etütleri Şubesi Müdürlüğü, http://www.kgm.gov. tr/SiteCollectionDocuments/KGMdocuments/Istatistikler/Trafikve UlasimBilgileri/09TrafikUlasimBilgileri.pdf 15.07.2010 http://www. kgm.gov.tr/Sayfalar/KGM/SiteTr/Istatistikler/TrafikUlasimBilgileri. aspx, 15.07.2010
  • GDHc, Karayolları Genel Müdürlüğü Stratejik Planlama Şubesi Müdürlüğü.(2007) Karayolu Planlaması Bilgileri El Kitabı. (GDH, Department of Strategic Planning: Handbook for Motorway Plan- ning).
  • GDH, Karayolları Genel Müdürlüğü. (2006) Anadolu Otoyolu Gümüşova-Gerede Kesimi İnşaat Kontrolu Mühendislik Hizmetleri İş İlerleme Raporu, Yüksel Proje.
  • Heinzerling, L. and Ackerman, F. (2002) Pricing the priceless: Cost-Ben- efit analysis of environmental protection. Georgetown Environmental Law and Policy Institute.
  • Hensher, D. A., Rose, J. M., Ortuzar, J. and Rizzi, L. I. Estimating the willingness to pay and value of risk reduction for car occupants in the road environment. Transportation Research Part A: Policy and Prac- tice, In Press, Corrected Proof (www.sciencedirect.com/science/arti- cle/B6VG7-4WP4BF4-1/2/f0c5f0a1b3d2c7b9b5204e1bcd16d2f5).
  • Jiang, M., Morikawa, T. (2004) Theoretical analysis on the variation of value of travel time savings, Transportation Research Part A: Policy and Practice, Volume 38, Issue 8, 551-571.
  • Kula, E. (2006) The social discount rate in cost-benefit analysis: the Brit- ish experience and lessons to be learned. Milan European Economy Workshops Working Paper.
  • Lundholm, M. (2005) Cost – Benefit analysis and the marginal cost of public funds. Department of Economics, Stockholm University.
  • Lyons, G., Jain, J. and Holley, D. (2007) The use of travel time by rail passengers in Great Britain, Transportation Research Part A: Policy and Practice, Volume 41, Issue 1, 107-120
  • Mishan, E.J.(1975) Cost-Benefit Analysis; An Informal Introduction, 2nd edit, Gresham Press, London.
  • Murty, M.N., Dhavala, K. K, Ghosh, M. and Singh, R.(October,2006) Social cost-benefit analysis of Delphi Metro. MPRA, No.1658
  • Nas, T. (1996) Cost Benefit Analysis Theory and Application. Sage Pub- lications, California. p.57
  • Nijkamp, P., Ubbels B. and Verhoef, E. (2002) Transport investment appraisal and the environment. Tinbergen Institute Dsicussion Paper.
  • OIM, Benefit Cost Analysis for Transportation Projects, Mn/DOT Ben- efit Cost Analysis Guidance (June 2005) (http://www.oim.dot.state. mn.us/EASS/, 20/07/2008).
  • Ozkan, N. (2000) Refinement of benefit cost analysis results for high- way projects. Ph.D Thesis, METU Department of Civil Engineering. p:18,63,75,76.
  • Panayotou, T. (September,2000) Basic concepts and common valuation errors in cost-benefit analysis. International Development Research Cen- tre. Ottowa. p: 10.
  • Proost, S., Van der Loo, S., De Palma A. and Lindsey, R., (2005) A Cost-Benefit Analysis of tunnel investment and tolling alternatives in Antwerp. Katholieke University Of Leuven Center For Economic Studies Working Papers.
  • Quinet, E. (2006) Transport cost benefit analysis in France: Recent changes, progress and shortcomings. Milan European Economy Workshops Working Paper. p:13.
  • Sugden, R. and Williams, A. (1978) The Principles of Practical Cost- Benefit Analysis. Oxford University Press, Britain.
  • Unsal, H. (2004) Kamu hizmetlerinin planlanmasinda fayda-maliyet analizi ve uygulanabilirliği, (Cost benefit analysis of public services planning and its applicability). Gazi University Social Sciences Institute Journal, No:1.p:1.
  • Watkins, T. An introduction to cost benefit analysis. San José State Uni- versity Department of Economics, Silicon Valley & Tornado Alley USA.
  • Weber, A. T. (2003) An exact relation between willingness to pay and willingness to accept. Economics Letters.
  • Weisbrod, E.G. and Beckwith J. (1992) Measuring economic develop- ment benefits for highway decision-making: The Wisconsin Case. Transportation Quarterly, Vol.46., No.1.
  • Zerbe, O. R. Ethical benefit-cost analysis. The Evans School of Public Affairs and The Law School, The University of Washington.
There are 35 citations in total.

Details

Other ID JA38NY39JS
Journal Section Research Article
Authors

Gaye Kocabaş This is me

Barış Serkan Kopurlu This is me

Publication Date November 1, 2010
Published in Issue Year 2010 Volume: 10 Issue: 4

Cite

APA Kocabaş, G., & Kopurlu, B. S. (2010). An Ex-Post Cost - Benefit Analysis of Bolu Mountain Tunnel Project. Ege Academic Review, 10(4), 1279-1287.
AMA Kocabaş G, Kopurlu BS. An Ex-Post Cost - Benefit Analysis of Bolu Mountain Tunnel Project. ear. November 2010;10(4):1279-1287.
Chicago Kocabaş, Gaye, and Barış Serkan Kopurlu. “An Ex-Post Cost - Benefit Analysis of Bolu Mountain Tunnel Project”. Ege Academic Review 10, no. 4 (November 2010): 1279-87.
EndNote Kocabaş G, Kopurlu BS (November 1, 2010) An Ex-Post Cost - Benefit Analysis of Bolu Mountain Tunnel Project. Ege Academic Review 10 4 1279–1287.
IEEE G. Kocabaş and B. S. Kopurlu, “An Ex-Post Cost - Benefit Analysis of Bolu Mountain Tunnel Project”, ear, vol. 10, no. 4, pp. 1279–1287, 2010.
ISNAD Kocabaş, Gaye - Kopurlu, Barış Serkan. “An Ex-Post Cost - Benefit Analysis of Bolu Mountain Tunnel Project”. Ege Academic Review 10/4 (November 2010), 1279-1287.
JAMA Kocabaş G, Kopurlu BS. An Ex-Post Cost - Benefit Analysis of Bolu Mountain Tunnel Project. ear. 2010;10:1279–1287.
MLA Kocabaş, Gaye and Barış Serkan Kopurlu. “An Ex-Post Cost - Benefit Analysis of Bolu Mountain Tunnel Project”. Ege Academic Review, vol. 10, no. 4, 2010, pp. 1279-87.
Vancouver Kocabaş G, Kopurlu BS. An Ex-Post Cost - Benefit Analysis of Bolu Mountain Tunnel Project. ear. 2010;10(4):1279-87.