Investment Policies to Extend the Life of Expressways in Japan

Table 2

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	0.609	0.577	0.546	0.517	0.490	0.464	0.439	0.416	0.393	0.372	0.352	0.333	0.315	0.298	0.282	0.266	0.251	0.237	0.224	0.212	0.200	0.189	0.178	0.168	0.158	0.149	0.141
Stock effect	5.840	5.616	5.399	5.192	4.992	4.800	4.615	4.437	4.266	4.102	3.944	3.792	3.646	3.505	3.370	3.240	3.115	2.995	2.879	2.768	2.662	2.558	2.460	2.365	2.274	2.186	2.101
Benefit	6.449	6.193	5.945	5.709	5.482	5.264	5.054	4.853	4.659	4.474	4.296	4.125	3.961	3.803	3.652	3.506	3.366	3.232	3.103	2.980	2.862	2.747	2.638	2.533	2.432	2.335	2.242