Bets, hedges, affordable loss and economic appraisal

In a week where the government has cut huge swathes of HS2, economic appraisal is in the spotlight again. Cost benefit analysis is the widespread tool used to assess the economic impact of public investment projects across government. It compares the benefits of a decision to its costs to understand whether it provides value for […]

An uncertain past

A significant part of our work at Volterra involves dealing with an uncertain future. Questions such as how many jobs a development will create, what strategy should an area adopt given we cannot predict how the economy will evolve, or how a new rail link will impact land use patterns around stations all require some […]