A dynamic model of generalized life cycle cost of urban rail transit was established based on life cycle cost theory in order to facilitate the selection and decision-making of urban rail transit system in big cities. During the development of the model, the urban rail transit system was considered as a quasi-public product and time value of capital was taken into account. In order to establish the model, components of the life cycle cost were studied firstly in terms of the internal and external cost, math...
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