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Economic Surplus Concepts and Their Use in Benefit Cost Analysis

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  • Randall, Alan

Abstract

The conceptual bases for project evaluation, the use of Hicksian consumer's surplus concepts of value, and the implementation of the currently accepted techniques for valuing non-marketed goods and services, are developed in some detail. While the primary focus is on partial equilibrium analysis of changes pertaining to a single good, some of the complications introduced by multiple changes and general equilibrium conditions are considered.

Suggested Citation

  • Randall, Alan, 1982. "Economic Surplus Concepts and Their Use in Benefit Cost Analysis," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 50(02), pages 1-29, August.
    • Handle: RePEc:ags:remaae:12241
    DOI: 10.22004/ag.econ.12241
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    References listed on IDEAS

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    Cited by:

    1. Pannell, David J., 1988. "Weed Management: A Review of Applied Economics Research in Australia," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), pages 1-15, December.
    2. Young, Ralph, 1991. "The Economic Significance of Environmental Resources: A Review of the Evidence," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(03), pages 1-26, December.
    3. Young, Ralph, 1992. "Evaluating Long-Lived Projects: The Issue Of Inter-Generational Equity," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 36(3), pages 1-26, December.

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