Saleh, Iraj (1997) The shadow pricing of labour in cost benefit analysis of infrastructure projects: Theory and application to sydney's second airport project. PhD thesis, University of Western Sydney, Australia.
Abstract
In project appraisal of infrastructure projects, cost benefit analysis has an important role. One of the central concerns is to adjust the distortions in markets to provide a better guide to a more effective allocation of scarce resources. The objectives of this thesis are : to establish the lack of a comprehensive estimation of the shadow wage rate (SWR) in most project appraisals in the Australian context; to develop a model for the estimation of the SWR for groups of occupations; to estimate the SWRs for the major groups of occupations in Australia; to forecast the number of employees required for Sydney's second airport project and to apply the estimated SWRs to the project, followed by estimation of the total social cost of the project. The latter estimation is done using a novel approach which, unlike many previous studies of transport infrastructure projects, estimates the SWR entirely from published statistical sources. Overall, the results are significant not only in the context of Sydney's second airport, but for other airports, the transportation sector, and in general for Australian project appraisal. The study proposes the need to change the traditional approach to the treatment of labour costs in project appraisal in Australia and provides a framework which can be useful to other researchers and analysts who wish to examine the pricing of labour in Australian project appraisal.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Uncontrolled Keywords: | market; occupations; airport; infrastructure project; markets; pricing; project appraisal; employee; Australia; cost benefit analysis |
| Index terms: | occupation, transport infrastructure, project appraisal, cost benefit analysis, distortion, Australia, estimation, transportation sector, pricing, estimate, infrastructure project, markets, labour cost |
| Subjects: | Geography, industry analysis, infrastructure and transport systems, cost management, networking, sociology, data analysis and analytics, project delivery, financial and cost management, economic analysis |
| Topics: | Project Management, Geographical Context, Research Practice, Engineering Principles, Cost Management, Business Strategy, Procurement, Roles and Professions |
| Descriptive scope: | 3 PCA |
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