[pp.37-46]

Cost-Benefit Analysis of the Northern Extension Project of Nagasaki City Streetcar by Applying Contingent Valuation Meth

Sarwar Uddin AHMED and Keinosuke GOTOH （Nagasaki University）

Abstract:
The main objective of this paper is to find ways to incorporate citizens opinion into the cost-benefit analysis of public works project, by taking the typical case of the Northern Extension Project of Streetcar (NEPS) in Nagasaki City. In doing so, the authors suggested and applied contingent valuation method (CVM) as one of the alternative methods and used a refined form of elicitation method to include citizens (stakeholders) opinion into project evaluation process by reducing biases. Accordingly, the benefit-cost (B/C) ratio of the NEPS is calculated by inserting citizens benefit of 4.85 billion yen. Finally, the study concluded that, recognition of citizens opinion into cost-benefit analysis alone might not make the project viable, but this inclusion would definitely provide a platform to the citizens and the concerned public bodies, to decide about the initiation and continuation of the public works project before commencing it.

Key Word:
public works project, cost-benefit analysis, citizens opinion, contingent valuation method

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