In recent times, the application of standard cost-benefit analysis to development projects has led to appraisals is biased upwards, and is also poor predictors of the actual returns from these projects. Similarly, the North American and European experience with energy conservation projects has shown a clear tendency to under-estimate costs and over-estimate benefits. Hence, unless appropriate changes are made in the methodology, ex-ante appraisals...
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1994/06/01
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Documento de Trabalho
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43622
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1
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1
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2010/07/01
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Disclosed
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Risk and uncertainty : selection criteria for projects offering net positive domestic benefits
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rates of return
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