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Some Remarks On The „Evaluation Problem” In Cost-Benefit Analytics

Author

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  • Mihaela Iacob

    (Bucharest Academy of Economic Studies)

  • Georgiana Camelia Creţan

    (Bucharest Academy of Economic Studies)

Abstract

According to the common definition, cost-benefit analysis (CBA) estimates and aggregates the monetary equivalent of present and future social costs and benefits regarding public investment projects (PIP), discounted and compared, aiming at deciding their opportunity. Monetary evaluation problem is more complex within the public sector, because market prices might not appropriately reflect social costs and benefits, relative to the evaluation undertaken by companies, where project benefits (revenues) and cost (payments) are both calculated at market prices. The purpose of this paper is to review and compare the fundamental pros and cons of various valuation methodologies used in CBA regarding PIP.

Suggested Citation

  • Mihaela Iacob & Georgiana Camelia Creţan, 2009. "Some Remarks On The „Evaluation Problem” In Cost-Benefit Analytics," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 12(12(541)(s), pages 154-160, December.
    • Handle: RePEc:agr:journl:v:12(541)(supplement):y:2009:i:12(541)(supplement):p:154-160
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    File URL: http://www.ectap.ro/documente/suplimente/Finantele%20si%20stabilitatea%20economica_Finante_en2010.pdf
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    Cited by:

    1. Mihaela IACOB & Felicia ALEXANDRU & Meral KAGITCI & Georgiana Camelia CRETAN & Filip IORGULESCU, 2011. "Evaluation Of Cultural Heritage – From The Epistemological Precautions To Pragmatic Approaches," International Conference Modern Approaches in Organisational Management and Economy, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 5(1), pages 218-223, November.

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