Cost–benefit analysis plays a central role in planning and investment decisions related to transportation. Yet it is often difficult for an outsider to control and check this process. A new engineering–economics-based tool, MOLINO-II, is proposed here to perform cost–benefit analysis of transport projects and regulations in a network and multiperiod context. MOLINO-II performs cost–benefit analysis for different transport modes and types of freight and passenger traffic, peak and off-peak time periods, diverse market structures, and various financing schemes. Congestion levels and tolls are computed endogenously. MOLINO-II also takes into account uncertainty in demand and cost parameters.
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