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Economic Surplus Concepts and Their Use in Benefit Cost Analysis

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  • Randall, Alan

Abstract

The conceptual bases for project evaluation, the use of Hicksian consumer's surplus concepts of value, and the implementation of the currently accepted techniques for valuing non-marketed goods and services, are developed in some detail. While the primary focus is on partial equilibrium analysis of changes pertaining to a single good, some of the complications introduced by multiple changes and general equilibrium conditions are considered.

Suggested Citation

  • Randall, Alan, 1982. "Economic Surplus Concepts and Their Use in Benefit Cost Analysis," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 50(02), August.
  • Handle: RePEc:ags:remaae:12241
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    File URL: http://purl.umn.edu/12241
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    References listed on IDEAS

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    Cited by:

    1. Young, Ralph, 1992. "Evaluating Long-Lived Projects: The Issue Of Inter-Generational Equity," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 36(03), December.
    2. Pannell, David J., 1988. "Weed Management: A Review of Applied Economics Research in Australia," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), December.
    3. Young, Ralph, 1991. "The Economic Significance of Environmental Resources: A Review of the Evidence," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(03), December.

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