Composite decision support by combining cost-benefit and multi-criteria decision

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    Abstract

    This paper concerns composite decision support based on combining cost-benefit analysis (CBA) with multi-criteria decision analysis (MCDA) for the assessment of economic as well as strategic impacts within transport projects. Specifically a composite model for assessment (COSIMA) is presented as a decision support system (DSS). This COSIMA DSS ensures that the assessment is conducted in a systematic, transparent and explicit way. The modelling principles presented are illuminated with a case study concerning a complex decision problem. The outcome demonstrates the approach as a valuable DSS, and it is concluded that appraisals of large transport projects can be effectively supported using a combination of CBA and MCDA. Finally, perspectives of the future modelling work are given.
    Original languageEnglish
    JournalDecision Support Systems
    Volume51
    Issue number1
    Pages (from-to)167-175
    ISSN0167-9236
    DOIs
    Publication statusPublished - 2011

    Keywords

    • Cost-benefit analysis
    • Multi-criteria decision analysis
    • Decision support systems
    • Decision analysis

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