Abstract
Chapter 2 suggested that, as a first approximation, market prices of final outputs indicated the ‘proper’ valuation of benefits, and market prices of resources the ‘proper’ valuation of costs. The maximand of benefits minus costs, valued in this way, was seen to satisfy the requirement for a ranking function which ordered alternative projects in terms of their social preferredness. The extent to which these prices do comprise a proper valuation must now be investigated.
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© 1972 Ajit K. Dasgupta and D. W. Pearce
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Dasgupta, A.K., Pearce, D.W. (1972). Accounting Prices. In: Cost-Benefit Analysis. Palgrave, London. https://doi.org/10.1007/978-1-349-15470-8_5
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DOI: https://doi.org/10.1007/978-1-349-15470-8_5
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-11397-4
Online ISBN: 978-1-349-15470-8
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