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- W2108808835 abstract "Economics and engineering are kindred disciplines and have frequently exchanged fundamental ideas over their long history. Modern engineering and economics share common ancestors in the French engineering schools of the late eighteenth century to the mid-nineteenth century Langins 2004; Ekelund and Hebert 1999; Hayek 1950 . The origins of both modern neoclassical Ekelund and Hebert 1999 and socialist Hayek 1950 traditions of economics occurred when French engineers tried to determine how to best apply engineering principles to problems of societal importance. Engineers have always been concerned not only with how to build things, but also with deciding where and how large facilities should be built; and in a more strategic sense, they have become concerned with how to finance facilities Frontinus 97AD . Benefit-cost analysis methods regarding such problems date back to Navier in the early 1800s; and today’s economic view of such problems begins largely with Jules Dupuit Ekelund and Hebert 1999; Dupuit 1844 . Dupuit was a member of the French Corps of Civil Engineers and a graduate of L’Ecole Nationale des Ponts et Chaussees. He is best known in engineering today for the Dupuit assumption in hydraulics, which he developed while working on the sewers of Paris. However, his most widespread intellectual contribution is the idea of “consumers’ surplus,” which is the economic value of goods and services that consumers receive above and beyond the price to consumers. This idea is at the core of modern microeconomic theory Dupuit 1844; Ekelund and Hebert 1999 . Dupuit developed the idea of consumers’ surplus while trying to determine the optimal capacity of a canal, on the" @default.
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- W2108808835 date "2006-11-01" @default.
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- W2108808835 title "Economic Engineering of Environmental and Water Resource Systems" @default.
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- W2108808835 doi "https://doi.org/10.1061/(asce)0733-9496(2006)132:6(399)" @default.
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