() and Karl-Gustaf Löfgren
Chuan-Zhong Li: Department of Economics, Postal: Department of Economics, Uppsala University, P.O. Box 513, SE-751 20 Uppsala, Sweden
Karl-Gustaf Löfgren: Umeå University, Postal: Department of Economics , 901 87 Umeå, Sweden
Abstract: This paper derives a dynamic cost-bene…t 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.
8 pages, May 26, 2010
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