This paper derives a dynamic cost-benefit rule for evaluating large projects. We show that, in addition to the conventional income and consumer surplus measures, the rule also entails an extra term involving capital cost changes.

The concept of genuine saving has in recent years become widely accepted as a dynamic welfare indicator, which first appeared in Weitzman (Q. J. Econ. 99:1–13, <CitationRef CitationID="CR18">1976</CitationRef>) and then formalized by Pearce and Atkinson (Ecol. Econ. 8:103–108, <CitationRef CitationID="CR12">1993</CitationRef>). This paper attempts to generalize this concept in a...</citationref></citationref>

This paper shows how utility based welfare measures in dynamic general equilibrium under imperfect markets can be transferred into a money metrics. In order to do this, we need to price forward looking components measured in units of utility. The typical comprehensive (green or inclusive)...

This paper derives a dynamic cost-benefit rule for evaluating large projects.We show that, in addition to the conventional income and consumer surplus measures, the rule also entails an extra term involving capital cost changes.

This paper derives a dynamic cost-bene…t rule for evaluating large projects.We show that, in addition to the conventional income and consumer surplus measures, the rule also entails an extra term involving capital cost changes.

This paper is concerned with the modern theory of social cost-bene.t analysis in <p> a dynamic economy. The theory emphasizes the role of a comprehensive, forward- <p> looking, dynamic welfare index within the period of the project rather than that <p> of a project.s long-term consequences. However, what...</p></p></p>

This paper is concerned with the choice of metrics for social cost-benefit analysis and dynamic welfare comparisons. In a utility-theoretic framework, we show that there is always a money measure that can serve as a substitute for the maximized utility wealth. Thus, under the non-arbitrage...

This paper deals with the modern theory of social cost-benefit analysis in a dynamic economy. The theory emphasizes the role of a comprehensive, forward-looking, dynamic welfare index within the period of the project rather than that of a project's long-term consequences. However, what...