Criteria for social investment

Kenneth Joseph Arrow

78 citations0/0 files storedWater Resources Research

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Capital Investment and Risk Analysis Water resources management and optimization Economic and Environmental Valuation

Abstract

An elementary exposition of choice criteria for social investment is presented. The two causes for discounting the future benefits, time preference and opportunity cost, are discussed. The general reasons for special methods of measuring benefits are brought out. The subsequent discussion is a more detailed analysis of the application of these general principles, together with some remarks on the measurement of costs.

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2005Risk and the Discount Rate for Public Investment 2005Value-for-money measurement in public-private partnerships 1981Future Generations and Discounting Rules in Public Sector Investment Appraisal 2011Characterizing the Amount and Speed of Discounting Procedures 2006Simple money-based tests for choosing between private and public delivery: a discussion of the issues 1967Bibliography of recent works in non-market decision making

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