Trainbike46
Established Member
Cost Benefit Analysis, so an overview of the costs and benefits of a project with a sensible counterfactual, can be useful, but a BCR expressed as a single number is, in my view, more harmful than helpful. It hides the (many) assumptions and political choices that are at the root of the calculations.
Another example of this, to add to many great points made by people including Magdalia, is that for many things how you value them relative to each other is a political choice, and one that is very much up for debate. For example, some people will value easier access to friends and family higher than others. Certain politicians will put a cost of zero on carbon emissions, whereas others will try and put a number on this (which vary by at least a factor 10 between different analyses). Hiding the assumptions and choices being made between a single number that is either under or over 1 is misleading at best.
Another example of this, to add to many great points made by people including Magdalia, is that for many things how you value them relative to each other is a political choice, and one that is very much up for debate. For example, some people will value easier access to friends and family higher than others. Certain politicians will put a cost of zero on carbon emissions, whereas others will try and put a number on this (which vary by at least a factor 10 between different analyses). Hiding the assumptions and choices being made between a single number that is either under or over 1 is misleading at best.

