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Cost-Benefit Analysis Under Uncertainty / David A. Graham.
- Format:
- Book
- Author/Creator:
- Graham, David A.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w0194.
- NBER working paper series no. w0194
- Language:
- English
- Subjects (All):
- Cost effectiveness.
- Welfare economics.
- Investment analysis.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1977.
- Cambridge, Mass. : National Bureau of Economic Research, 1977.
- Summary:
- In what follows we provide a conceptually correct procedure for determining whether a risky project passes the "potential Pareto improvement" welfare criterion which forms the normative basis of cost-benefit analysis. In this approach the role of secondary markets in providing opportunities for redistributing risk is made transparent and the modifications necessary when such markets do not exist are suggested.
- Notes:
- Print version record
- August 1977.
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