Study week on the econometric approach to development planning

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Monograph

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

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Title:: Econometric analysis for assessing the efficacy of public investment / R. Dorman, Harvard University - Cambridge, Mass. - U.S.A.

Collection:: Economics Books

SEMAINE D'ÉTUDE SUR LE ROLE DF [ ANALYSE ECONOMETRIQUE ETC. OC y. 1 =) This form, which emphasizes the lack of parallelism be- tween design choices and operating policy choices, has empirical advantages. The major one is that it poses the problem in a manner that technicians find manageable. It asks, « If you had a structure with specification x, ... x,, how would you operate it and what would the resultant outputs be? ». This basic formulation has to be modified clearly to fit the particular circumstances of particular projects. For roads, for example, achievement of objectives depends directly on structural characteristics (lane width, maximum grade, etc.) as well as on operating policy (speed and weight limits, level of maintenance, etc.). For reservoirs, structural characteristics will set limits to simple functions of the operating parameters as well as to the parameters themselves. In all these variants, however, the logical structure of the model will remain the same. The final approach that econometrics suggests to the problem of handling non-comparable benefits is closely related to the second. Instead of meeting specified targets at minimum cost, one can pose the problem of maximizing performance with respect to some one objective, subject to meeting targets with respect to the other dimensions of performance. In this approach the most likely objective to choose for maximization is the discounted present value of the net benefits that have convenient monetary equivalents. Construction cost is likely to enter as one of the constraining targets. The sacrifice of symmetry in the treatment of objectives is probably more apparent than real, and this approach has some compensating advantages. One advantage is that it reduces by one the number of target outputs that have to be specified in advance of serious analysis. The need to specify a maximum Dorfman - pag. 13

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