Dynamic cost-benefit analysis of large projects: The role of capital cost
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作者:
Li, Chuan-Zhong
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机构:
Uppsala Univ, Dept Econ, SE-75120 Uppsala, Sweden
Royal Swedish Acad Sci, Beijer Inst, Stockholm, Sweden
Zhejiang Univ, Dept Econ, Hangzhou 310003, Zhejiang, Peoples R ChinaUppsala Univ, Dept Econ, SE-75120 Uppsala, Sweden
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. (C) 2010 Elsevier B.V. All rights reserved.
机构:
Univ Oxford, Said Business Sch, Oxford, England
IT Univ Copenhagen, Comp Sci Dept, Copenhagen, DenmarkUniv Oxford, Said Business Sch, Oxford, England
Flyvbjerg, Bent
Bester, Dirk W.
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Univ Oxford, Dept Stat, Oxford, EnglandUniv Oxford, Said Business Sch, Oxford, England