Dynamic cost-benefit analysis of large projects: The role of capital cost
This paper derives a dynamic cost-benefit rule for evaluating large projects. We show that, in addition to the conventional income and consumer surplus measures, the rule also entails an extra term involving capital cost changes.
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- Chuan-Zhong Li & Karl-Gustaf Löfgren, 2008.
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- Dreze, Jean & Stern, Nicholas, 1987. "The theory of cost-benefit analysis," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 2, chapter 14, pages 909-989 Elsevier.
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