Evaluating Infrastructure Projects under Risk and Uncertainty: A Checklist of Issues

Harry Clarke

Australian Economic Review, 2014, vol. 47, issue 1, 147-156

Abstract: type="main" xml:lang="en">

The implications of risk, investment irreversibility and learning for infrastructure project assessment are considered, using investment in desalination as a case study. Both qualitative insights from ‘real options’ approaches and arguments based on policy-maker risk aversion to investment appraisal are summarised. A checklist of key issues is presented. Remarks are also made about how pure uncertainty and gross ignorance can influence policy determination.

Date: 2014
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