Tatsuhito, KONO; Naoki, KITAMURA; Kiyoshi, YAMASAKI; … - Research Institute of Economy, Trade and Industry (RIETI) - 2013
Cost-benefit analysis (CBA) is considered as an effective means to avoid the government's failures of public projects. However, once CBA becomes mandatory and residents expect a public project to be established based upon it, there is the potential for a dynamic inconsistency problem to arise....