Bringing social standards into project evaluation under dynamic uncertainty

Risk Analysis

Volumn 25, Issue 2, 2005, Pages 457-466

  Knudsen, Odin K ^a   Scandizzo, Pasquale L ^a,b  

^a UNIVERSITY OF ROME TOR VERGATA   (Italy)

^b WORLD BANK   (United States)

Author keywords

Efficiency; Precautionary principle; Real options; Social standard

Indexed keywords

COSTS; ENVIRONMENTAL IMPACT; FUNCTIONS; MATHEMATICAL MODELS; PROJECT MANAGEMENT; SOCIETIES AND INSTITUTIONS;

COST-BENEFIT ANALYSIS; DAMAGE FUNCTIONS; PROJECT EVALUATION; SOCIAL STANDARDS;

SOCIAL ASPECTS;

PRECAUTIONARY PRINCIPLE; PROJECT ASSESSMENT;

ARTICLE; COMPENSATION; COST BENEFIT ANALYSIS; EVALUATION; INVESTMENT; MATHEMATICAL ANALYSIS; METHODOLOGY; MODEL; PRODUCTIVITY; SCREENING; SOCIAL BEHAVIOR; SOCIETY; STANDARD; THEORY; UNCERTAINTY;

EID: 18644371976     PISSN: 02724332     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1539-6924.2005.00602.x     Document Type: Article

References (14)

1. Arrow, K. J., & Fisher, A. C. (1974). Environmental preservation, uncertainty, and irreversibility. Quarterly Journal of Economics, 88, 312-319.
2. Bohm, P. (1975). Option demand and consumer's surplus: Comment. American Economic Review, 65(4), 733-736.
3. Dixit, A. K., & Pyndick, R. S. (1994). Investment Under Uncertainty. Princeton, NJ: Princeton University Press.
4. Farrow, S., & Morel, B. (2001). Continuation rights, options, and the precautionary principle. Risk, Decision, and Policy, 6-11.
5. Gollier, C. (2001). Precautionary principle: The economic perspective. Economic Policy, 16, 303-327.
6. Knudsen, O. K., & Scandizzo, P. L. (1980). The evaluation of the benefits of basic need policies. American Journal of Agricultural Economics, 62(1), 46-57.
7. Knudsen, O. K., & Scandizzo, P. L. (1996). Social supply and the evaluation of food policies. American Journal of Agricultural Economics, 78(1), 137-145.
8. Knudsen, O. K., & Scandizzo, P. L. (2000). Uncertainty and the economics of patents for biotechnology. Paper presented at the Conference on Biotechnology, Ravello Italy.
9. Knudsen, O. K., & Scandizzo, P. L. (2001). Evaluating biotechnology: The precautionary principle and the social standard. Paper presented at the Conference on Biotechnology, Ravello Italy.
10. Knudsen, O. K., & Scandizzo, P. L. (2002). Environmental liability and research and development in biotechnology: A real options approach. Paper presented at the Conference on Biotechnology, Ravello Italy.
11. Knudsen, O. K., & Scandizzo, P. L. (2003). Establishing Social Standards. Discussion Draft.
12. Little, I. M. D., & Mirrlees, J. A. (1969). Manual of Industrial Project Analysis. Paris: OECD Development Centre.
13. Mae, W. H. (2000). The Precautionary Principle Is Coherent. ISIS Paper, October 31. Available at www.biotech-info.net.
14. Maione, D. (2002). What price safety? The precautionary principle and its economic implications. Journal of Common Market Studies, 40(1), 89-109.