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Identify (at least) three major challenges in conducting a reliable cost-benefit analysis for a proposed transportation...

Identify (at least) three major challenges in conducting a reliable cost-benefit analysis for a proposed transportation project. Briefly discuss those issues and how they may affect the project valuation.

Hint: focus on what go into cost and benefit formulations (i.e., major areas of interest in defining cost and benefit). What could go wrong in estimating cost and benefit of a project?

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