Appraisal

Anders Karlström

Chapter 25 in Handbook of Choice Modelling, 2024, pp 720-745 from Edward Elgar Publishing

Abstract: This chapter discusses the use of neo-classical welfare economics in appraisal, i.e. cost-benefit analysis, using random utility choice modelling. The central role of the logsum formula is explained, generalisations are given for cases where utility is random, and approximations are discussed. Alternative approaches are also introduced.

Keywords: Economics and Finance; Environment; Geography; Urban and Regional Studies (search for similar items in EconPapers)
Date: 2024
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