Economic Evaluation of Investment for Oceanographic Research by usingCost Bene t Analysis (A Case study of Iranian National Institute forOceanography)

Shima Madani
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Shima Madani: Iranian National Institute for Oceanography and Atmospheric Science, Tehran, Iran

International Journal of Business and Economic Affairs (IJBEA), 2017, vol. 2, issue 2, 85-90

Abstract: This article presents an evaluation of Cost Bene t Analysis (CBA) from oceanographic research in IranianNational Institute for Oceanography (INIO) as a case study over a 10-year period from 2002 to 2012. From three formsof CBA, we have calculated Bene t-Cost Ratio (B/C ratio) for three categories of bene ts depending on how the level ofcon dence is. Annual adjusted bene t is based on value added by cost saving or avoided cost method. Adjusted costs arethe public funds which have been indicated to INIO each year. For those bene ts that have direct economic e ect, thelevel of con dence is high and for indirect bene ts that need more assumption to apply or more investment, con dencelevel is medium and low. The results show that B/C ratio for oceanography research in Iran ranging from a low of 0.14to a high of 4.77 depends on di erent scenario for bene ts. So if a tangible monetary bene t is our case, the B/C ratioshows that there is no economic efficiency and more investment is needed to make oceanographic studies applicable andeconomical.

Keywords: Economic bene ts; Bene ts-costs ratio (B/C ratio); Cost bene t analysis (CBA); Oceanographic re-search; Iran (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:aya:ijbeaa:2017:p:85-90

DOI: 10.24088/IJBEA-2017-22001

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