A Fuzzy Cognitive Map Approach Applied in Cost-Benefit Analysis for Highway Projects Universiteit Hasselt
Cost-benefit analysis (CBA) is a method widely used all over the world for transport project appraisal. However, this method needs to handle the inherent uncertainty which affects the results negatively. In a highway project, there are high uncertainties due to a lack of data, future predictions, economic indeterminacy, etc. In conventional approaches, a risk analysis, which is based primarily on a sensitivity analysis and/or Monte Carlo ...