The Adequacy of Cost-Benefit Analysis in the Assessment of Public Value: A Case Study from the Transportation Sector

The complexity of the public value discussion has hindered the development of consensual measurement guidelines for use in public administration practice. This article explores the use of the cost-benefit analysis (CBA) framework in the transportation sector and considers its relevance in assessing public value. A case study is presented on the reconfiguration of a public transport network in the municipality of Arganil, Portugal. The CBA did not fully capture the effects of the network reconfiguration, demonstrating its limitations in assessing public value.