This paper illustrates the use of real options principles to value prototypical resource and industryinvestment projects. It captures important competitive/strategic dimensions in a step-by-stepanalysis of investment decisions (options) under uncertainty. It compares and contrasts...

The introduction of road pricing has important budgetary and income distributional consequences. In countries like Denmark, due to high marginal rates of taxation, raising government revenue and redistributing income is associated with substantial distortionary and administrative costs. This...

We provide direct estimates of how agents trade off immediate costs and uncertain future benefits that occur in the very long run, 100 or more years away. We exploit a unique feature of housing markets in the U.K. and Singapore, where residential property ownership takes the form of either...

Shift to the program planning and budgeting is a budget policy priority in Russia. However, the current system of public programs development and implementation needs to be improved. The research aims at development of methodological approaches for a priori financial control of public programs...

Within a public environment in which accountability is at the forefront, an important evaluation question is how to document the economic value of innovation-related outputs and outcomes from intramural research relative to the cost of funding an intramural research programme. In this paper, we...

We consider results of cost-benefit analysis (CBA) in a large sample of ISPA (Structural Instrument for Pre-Accession countries) projects co-financed by the European Union to support investment in transport and environment. The research focus is on the empirical analysis of the variability of...

This book of essays “Cost- Benefit Analysis and Incentives in Evaluation” edited by Massimo Florio has a twofold objective. While it explicitly focuses on the reduction of moral hazard on the part of the European Union member states in using cost-benefit analysis (CBA), and in doing so...

The assessment of the technical, economic and financial quality of programmes and projects is one of the day-to-day activities at the European Investment Bank (EIB). The paper explains how this task is approached within the EIB, how some of the tools of cost-benefit analysis are employed, and...