Investment Policies to Extend the Life of Expressways in Japan

Table 3

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	0.529	0.497	0.467	0.438	0.412	0.387	0.363	0.341	0.320	0.300	0.282	0.264	0.248	0.233	0.218	0.205	0.192	0.180	0.169	0.158	0.148	0.139	0.130	0.122	0.114	0.107	0.100
Stock effect	5.379	5.116	4.866	4.628	4.402	4.187	3.982	3.787	3.602	3.426	3.258	3.099	2.947	2.803	2.666	2.535	2.411	2.293	2.181	2.074	1.973	1.876	1.784	1.697	1.614	1.535	1.460
Benefit	5.908	5.613	5.333	5.066	4.814	4.574	4.345	4.128	3.922	3.726	3.540	3.363	3.195	3.036	2.884	2.740	2.603	2.473	2.350	2.232	2.121	2.015	1.914	1.819	1.728	1.642	1.560