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Dynamic cost–benefit analysis of large projects: The role of capital cost

Chuan-Zhong Li och Karl-Gustaf Löfgren Economics Letters 109 (2010) 128–130


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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Keywords: cost-benefit rule, large project,capital cost

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