Abstract
The objective of this study was to develop a dynamic programming procedure using economic analyses to assist in optimizing expenditures in the pavement resurfacing program in Kentucky. Benefit relationships were determined from expected accident reduction, improved comfort, time savings, fuel savings, and maintenance savings. The only cost input to the program was the resurfacing cost of each project.
Dynamic programming was adapted to the selection of projects for resurfacing. Over $8.4 million of additional user benefits would have been realized in 1976 if dynamic programming had been used in selecting projects. The benefit-cost ratio of sections selected for resurfacing was 3.21; dynamic programming would have yielded 4.22.
Report Date
2-1-1979
Report Number
No. 516
Digital Object Identifier
http://dx.doi.org/10.13023/KTC.RR.1979.516
Repository Citation
Zegeer, Charles V.; Agent, Kenneth R.; and Rizenbergs, Rolands L., "Use of Economic Analyses and Dynamic Programming in the Selection of Projects for Resurfacing" (1979). Kentucky Transportation Center Research Report. 1049.
https://uknowledge.uky.edu/ktc_researchreports/1049
