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Economic Evaluation of Project Site Using Cardinal Numbers Approach

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  • Gul, Ejaz

Abstract

Selection of suitable site for construction project is essential since it has strong linkage with service life of the project. Recent fast developments in construction technology consider only the technical suitability of the project site but ignore the economic suitability. There can be many instances when a site may be suitable from technical point but not from economic point of view and vice versa. This research is about finding economic suitability of three different project sites located in Liberia. Cardinal approach was used for the study. A multi-prong comprehensive research methodology was adopted to accomplish the task. Detail economic features of each site were studied and thorough economic evaluation was carried out. Finally, based on economic factors, an economic suitability map was created for the area with the latest and state of the art computer software. The research is first of its kind to map the features of economic evaluation.

Suggested Citation

  • Gul, Ejaz, 2013. "Economic Evaluation of Project Site Using Cardinal Numbers Approach," MPRA Paper 48283, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:48283
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    References listed on IDEAS

    as
    1. Gul, Ejaz, 2009. "Culture and Economic Growth of Cities; Evidence from Liberia," MPRA Paper 48541, University Library of Munich, Germany.
    2. Keeney,Ralph L. & Raiffa,Howard, 1993. "Decisions with Multiple Objectives," Cambridge Books, Cambridge University Press, number 9780521438834.
    3. Eckel, Catherine C. & Grossman, Philip J., 2008. "Men, Women and Risk Aversion: Experimental Evidence," Handbook of Experimental Economics Results, in: Charles R. Plott & Vernon L. Smith (ed.), Handbook of Experimental Economics Results, edition 1, volume 1, chapter 113, pages 1061-1073, Elsevier.
    4. Broome,John, 1999. "Ethics out of Economics," Cambridge Books, Cambridge University Press, number 9780521642750.
    5. Booij, Adam S. & van de Kuilen, Gijs, 2009. "A parameter-free analysis of the utility of money for the general population under prospect theory," Journal of Economic Psychology, Elsevier, vol. 30(4), pages 651-666, August.
    6. Arrow, Kenneth J, 1994. "Methodological Individualism and Social Knowledge," American Economic Review, American Economic Association, vol. 84(2), pages 1-9, May.
    7. Hausman, Daniel M & McPherson, Michael S, 1993. "Taking Ethics Seriously: Economics and Contemporary Moral Philosophy," Journal of Economic Literature, American Economic Association, vol. 31(2), pages 671-731, June.
    8. Brennan, Timothy J., 1993. "The Futility of Multiple Utility," Economics and Philosophy, Cambridge University Press, vol. 9(1), pages 155-164, April.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. #HEJC papers for August 2013
      by academichealtheconomists in The Academic Health Economists' Blog on 2013-08-01 04:00:48

    Citations

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    Cited by:

    1. Ejaz Gul & Imran Sharif Chaudhry, 2014. "Qualitative Assessment of Energy Initiative: Case Study from Liberia," International Journal of Energy Economics and Policy, Econjournals, vol. 4(3), pages 360-372.
    2. Gul Ejaz & Maryum Bibi, 2016. "Hello Folk: We Are Responsible for What We Will Face in 2025; Evidence from Philosophical Underpinnings of Social Capital," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 55(4), pages 805-822.

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    More about this item

    Keywords

    Economic ssuitability; Project Site; Cardinal aapproach; Evaluation; Economic factors; Suitability map;
    All these keywords.

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O22 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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