Basic Theory of Highway Project Evaluation
نویسنده
چکیده
The criterion for making good investments is to select projects for which the net benefits are positive, i.e., incremental benefits exceed incremental costs. The major analytic steps are: define alternatives, evaluate impacts, and select the project with highest net benefits. If pricing is determined independently of marginal cost, however, pricing is exogenous and the investment evaluation is necessarily in a second-best mode.
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تاریخ انتشار 1999