Participatory Value Evaluation (PVE) is a new method to assess the desirability of government projects. In a PVE, individuals select their preferred portfolio of government projects given a constrained public budget. Individuals’ preferences for (the impacts of) government projects can be determined based on these choices. The obtained preferences can be used to rank government projects in terms of their desirability. Cost-Benefit Analysis (CBA) is an alternative appraisal method used to assess the desirability of government projects. CBA establishes the desirability of public projects through analyzing people’s trade-offs between their private income and impacts of public projects. The primary objective of this paper is to investigate whether CBA and PVE lead to different policy recommendations in the context of urban mobility investments. We conducted CBAs and a PVE for 16 urban mobility investment projects and find indicative evidence that projects which focus on improving traffic safety and improvements for cyclists/pedestrians rank higher in the PVE, whereas car projects rank higher in the CBA analysis.

参与式价值评估（PVE）是一种评估政府项目可取性的新方法。在PVE中，鉴于公共预算有限，个人可以选择他们偏爱的政府项目组合。可以基于这些选择来确定个人对政府项目（的影响）的偏好。所获得的首选项可用于根据需要对政府项目进行排名。成本效益分析（CBA）是用于评估政府项目的可取性的替代评估方法。CBA通过分析人们在私人收入和公共项目影响之间的权衡来确定公共项目的可取性。本文的主要目的是研究在城市交通投资的背景下，CBA和PVE是否导致不同的政策建议。