It is usually assumed that the appraisal of the impacts experienced by present generations does not entail any difficulty. However, this is not true. Moreover, there is not a widely accepted methodology for taking these impacts into account. Some of the controversial issues are: the appropriate...

The decisions of many individuals and social groups, taking according to well-defined objectives, are causing serious social and environmental problems, in spite of following the dictates of economic rationality. There are many examples of serious problems for which there are not yet appropriate...

Suele darse por sentado que la valoración de los impactos que recaen sobre las generaciones presentes no comporta dificultad alguna. Sin embargo esto no es cierto. Es más, no se dispone de una metodología ampliamente aceptada para contabilizar dichos impactos. Algunos de los aspectos más...

The decisions of many individuals and social groups, taken according to well-defined objectives, causes serious social and environmental problems in spite of following the dictates of economic rationality. There are many examples of serious problems for which there are no appropriate solutions...

Net present value has long been regarded in academic circles as the best criterion for project appraisal; however, several alternative, complementary methods remain popular with practitioners. This paper demonstrates that, if properly applied, several of these standard criteria – such as net...

Unlike the typical issue in which optimality requires some amount of local public goods provided in every town/locality, determining the best location for an indivisible local collective good, is not straightforward by merely appealing to the Pareto efficiency criterion. If two cities are...

Unlike the typical issue in which optimality requires some amount of local public goods provided in every town/locality, determining the best location for an indivisible local collective good, is not straightforward by merely appealing to the Pareto efficiency criterion. If two cities are...