§ Mr. Chope
The basic parameters, assumptions and methodologies incorporated in COBA are continually118W reviewed and researched. Since COBA 9 was released, there have been several parameter changes which have been considered necessary, and users have accordingly been notified of changes they need to make when running COBA 9. COBA 10 will incorporate these changes in to the default parameter set, thus simplifying the task of running the program. These changes include revised national road traffic forecasts (1989), values of time, accident rates, discount rate, GDP and petrol price forecasts.
Occasionally research may indicate the need for change to parameters or methodologies which cannot be incorporated by the user, and which therefore require a revised version of the program to be released. COBA 10 will incorporate some changes of this kind.
§ Mr. Chope
In cost-benefit analyses of road schemes, time savings for commuting to work are given the same value, whatever the method of commuting. Commuting time is valued at the standard appraisal value for non-work time, which is based on research into what people are willing to pay to save time.