Titlebook: Cost-Benefit Analysis; Theory and Practice Ajit K. Dasgupta,D. W. Pearce Textbook 1972Latest edition Ajit K. Dasgupta and D. W. Pearce 1972

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uidelines been offered for assisting with the choice . alternative projects. Lastly, constraints on the objective function have not been incorporated.. This chapter looks in some detail at each of these problems, with the major assumption that costs and benefits are known with certainty. Chapter 8 relaxes the latter assumption.

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Wissenserwerb: Empirische Befunde,and that the first of the airport’s proposed four runways should be built in 1980. The recommendation was the outcome of a lengthy inquiry into a number of possible sites, of which four were short-listed for detailed analysis. Of the seven members of the Commission, only one, Professor Colin Buchanan, dissented from the majority view..

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Introductionn the Measurement of the Utility of Public Works’, published in 1844 [1].. In this work, Dupuit pointed out that ‘political economy has not yet defined in any precise manner the conditions which these [public] works must fulfil in order to be really useful’ ([1] p. 83), and proceeded to develop his

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Pareto Optimality, Compensation Tests and ‘Equity’fering . of preference between individuals. It follows that there must be some overall state of the economy which is most preferred, and that the objective of CBA can be reformulated as that of guiding choices such that this most preferred state, or ‘social optimum’, is achieved. Clearly, this objec

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Accounting Priceses the ‘proper’ valuation of costs. The maximand of benefits minus costs, valued in this way, was seen to satisfy the requirement for a ranking function which ordered alternative projects in terms of their social preferredness. The extent to which these prices do comprise a proper valuation must now

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External Effects and Public Goodshether they accrue to the investing agency or not. A basic difference between commercial and social returns consists of the ‘external’ effects of the investment; hence the importance of these effects for CBA.