On Cost-Benefit Rules in an Economy with Natural Resources

Johansson P-O
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Johansson P-O: Department of Economics, University of Umeå, S-901 87 Umeå, Sweden

Environment and Planning C, 1983, vol. 1, issue 1, 107-116

Abstract: Traditionally the rules to be used when evaluating the efficiency gains from (public sector) projects are derived from models in which there are no natural resources. If the use of a certain natural resource is discussed the implicit assumption seems to be that the traditional project evaluation rules are applicable. In this paper it is shown that the traditional cost-benefit rules are misleading if the economy is making use of exhaustible or renewable resources.

Date: 1983
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Persistent link: https://EconPapers.repec.org/RePEc:sae:envirc:v:1:y:1983:i:1:p:107-116

DOI: 10.1068/c010107

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