Mler, Karl-Gran; Fisher, Anthony - In: Handbook of environmental economics : volume 2, Valuing …, (pp. 571-620). 2005
We analyze in this chapter decision-making when costs and benefits of an action are uncertain, that is, when future preferences are uncertain. We begin, in Section 2, with the classical analysis by Krutilla et al. (1972) of whether the expected consumer's surplus is a correct measure of the net...
