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- W95167965 abstract "Publisher Summary This chapter reviews the cost-benefit school of thought. Such an analysis helps postulate that instead of private profitability, the social benefits, and costs of the project envisaged must be determined in such a way that current prices are replaced in the calculation by accounting prices—shadow prices—reflecting social effects. The methodology of project appraisal based on cost-benefit analysis has penetrated deeply into the activities of a number of international organizations. It has accustomed preparers of decisions concerned with projects, planners in general, and specialists of international organizations to examine each project within comprehensive social interrelationships. Also, cost-benefit analysis with shadow prices has become a school (CB school) of thinking in the project appraisals of developing countries. There is general agreement amongst economists that the theoretical background of the CB school is the modern welfare economics that has emerged following Pigou. The CB school claims that decision-makers should consider cost-benefit analysis carried out with shadow prices as the fundamental criterion of selection. It has not fundamentally influenced actual decisions." @default.
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- W95167965 date "1979-01-01" @default.
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- W95167965 title "Appraisal of Project Appraisal**The author acknowledges with appreciation the support he received from the United Nations Food and Agriculture Organization (FAO). He expresses his gratitude to A. Simonovits, Institute of Economics, Budapest, who assisted him in the elaboration of the Appendix." @default.
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- W95167965 doi "https://doi.org/10.1016/b978-0-12-118850-4.50010-2" @default.
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