Survey of Literature on Cost-Benefit Analysis for Industrial Project Evaluation

  • Arnold C. Harberger


The field of industrial project evaluation is a relatively new branch of economic analysis, and as such is still in its formative stages. Numerous gaps still exist in the available literature, and in many cases alternative approaches to problems have been suggested which entail differences of concept that are as yet unresolved. These facts have determined the design of this survey. An attempt has been made here to take a constructive and forward-looking approach, focusing on gaps, weaknesses and unresolved issues in the field and attempting to contribute to an improvement of existing procedures wherever possible.


Discount Rate Market Price Marginal Productivity Project Evaluation Social Rate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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  1. 6.
    In C. A. Anderson and M. J.Bowman, eds., Education and Economic Development Chicago: Aldine, 1965.Google Scholar
  2. 7.
    United States Inter-Agency Committee on Water Resources, Proposed Practices for Economic Analysis of River Basin Projects Washington, D.C.: U.S. Government Printing Office, 1958, p. 24.Google Scholar
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    J. Tinbergen, The Design of Development Baltimore: Johns Hopkins University Press, 1958, pp. 40, 42.Google Scholar
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    Otto Eckstein, Water Resource Development: the Economics of Project Evaluation Cambridge, Mass.: Harvard University Press, 1958, pp. 99–100.Google Scholar
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    See also J. V. Krutilla and O. Eckstein, Multiple Purpose River Development Baltimore: Johns Hopkins University Press, 1958.Google Scholar
  6. 16.
    See Stephen A. Marglin, ‘The opportunity costs of public investment’, Quarterly journal of Economics Cambridge, Mass.: Harvard University Press, May 1963.Google Scholar
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    Kenneth J. Arrow, ‘Discounting and public investment criteria’, paper presented at the 1965 Western Resources Conference, Seminar on Water Resources Research, 6 July 1965.Google Scholar
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    See Pierre Massé, Optimal Investment Decisions Englewood Cliffs, N.J.: Prentice-Hall, 1962, pp. 10–20.Google Scholar
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    See, for example, R. M. Solow, ‘Technical change and the aggregate production function’, Review of Economics and Statistics August 1957.Google Scholar
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    See United States President’s Materials Policy Commission, Resources for Freedom Washington, D.C.: Government Printing Office, 1952, vol. II, chap. 22.Google Scholar
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Copyright information

© Arnold C. Harberger 1972

Authors and Affiliations

  • Arnold C. Harberger
    • 1
  1. 1.University of ChicagoUSA

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