Research, development and innovation (RDI) is a key driver of Europe’s long-term competitiveness, and RDI infrastructure requires considerable investment and long-term planning. But evaluating the socio-economic value of often large and complex RDI facilities is a challenging and costly process. How to assess their return on investment as well as the future social benefits? Can cost-benefit analysis (CBA) help? And if so, which model to use? Professor Massimo Florio (University of Milan) has tried to answer these questions, particularly by building a conceptual CBA framework for RDI infrastructure and testing it with two case studies: the CERN Large Hadron Collider in Geneva and the National Hadrontherapy Centre for Cancer Treatment (CNAO) in Pavia, Italy. He presented the results of his research, carried out with the help of an EIBURS research grant.
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Professor Massimo Florio