Investment Policies to Extend the Life of Expressways in Japan

Table 1

Decomposition of benefits when .

RRA	1.00	1.05	1.10	1.15	1.20	1.25	1.30	1.35	1.40	1.45	1.50	1.55	1.60	1.65	1.70	1.75	1.80	1.85	1.90	1.95	2.00	2.05	2.10	2.15	2.20	2.25	2.30
Smoothing effect	0.723	0.692	0.662	0.633	0.605	0.578	0.553	0.528	0.504	0.481	0.459	0.438	0.418	0.398	0.380	0.362	0.344	0.328	0.312	0.297	0.282	0.268	0.254	0.242	0.229	0.217	0.206
Stock effect	6.604	6.439	6.278	6.121	5.968	5.819	5.674	5.532	5.393	5.258	5.126	4.998	4.872	4.750	4.631	4.515	4.401	4.291	4.183	4.077	3.975	3.875	3.778	3.682	3.589	3.499	3.410
Benefit	7.327	7.131	6.940	6.754	6.573	6.397	6.227	6.060	5.897	5.739	5.585	5.436	5.290	5.148	5.011	4.877	4.745	4.619	4.495	4.374	4.257	4.143	4.032	3.924	3.818	3.716	3.616