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Unformatted text preview: Kaldor-Hicks and equity Societal vs. Business/Client perspective 3 ways to financially value costs and benefits of market goods (how done and comparison) 1. change in CS 2. compensating variation 3. equivalent variation 3 ways to value non-market goods (how done and limitations) 1. hedonic price models 2. contingent valuation 3. activity surveys/travel cost method Net present value Midterm Review Topics Fall 2011 UGA Adjusting for inflation Expected value Cost-effectiveness analysis vs. cost-benefit analysis Market failure Public goods (definition and consequences) Free rider problem Common property resource problem (Tragedy of the Commons) Toll good problem Externalities (definition and consequences) Natural monopoly (definition and conseq...
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This note was uploaded on 01/18/2012 for the course PADP 8670 taught by Professor Staff during the Fall '10 term at UGA.
- Fall '10