Cost-Benefit Analysis

Municipal solid waste generation is a rapidly increasing challenge that is leading to severe pollution and environmental degradation in many urban areas of developing countries. Globally, the solid waste sector accounts for 18% of methane emissions and 3e4% of greenhouse gas emissions overall. Waste handling and disposal systems in most large cities have largely been designed with minimal accounting of environmental issues. This study presents the Waste to Energy Recovery Assessment (WERA) framework, a new quantitative decision support model for initial evaluation and alternative comparisons of different thermochemical treatments of municipal wastes. The framework not only accounts for benefits through electricity generation but also accounts for emissions from facilities and the associated social cost of carbon in a cost-benefit assessment. The assessments are conducted with Monte Carlo simulations that explicitly account for uncertain factors such as future composition and generation of solid waste, technical efficiency of treatment processes, capital and operating costs, as well as future policies. The framework is used to study waste-to-energy (WtE) systems for Abu Dhabi, Riyadh, Tokyo and New York. The results show that WtE systems can fulfill only 1.4e3.6% of 2014 electricity demand in the analyzed cases. Furthermore, the net present value for different technologies can be positive if collection fees and electricity rates (potentially set through feed-in-tariff policies) are sufficiently high. The analysis for Abu Dhabi and Riyadh also reveals that in a limited set of conditions (of technology efficiencies, and waste collection rates etc.) the WtE facilities can be self-sustaining investments.

This study projects electricity savings, cost-benefit analysis and emission reduction of lighting retrofits in Malaysia residential sector. The cost-benefit is determined as a function of energy savings due to retrofit of more efficient lighting system. The energy savings were calculated based on 25, 50 and 75% of potential retrofits of inefficient lighting in residential sector. The study found that, this strategy save a significant amount of energy and consumers money. However, an effort to create energy efficiency awareness among consumers and subsidies efficient lighting should be identified, because this efficient lighting is quite expensive in Malaysia. © 2004 Elsevier B.V. All rights reserved.

http://ac.els-cdn.com/S0378778804003329/1-s2.0-S0378778804003329-main.pdf?_tid=350c247c-a9c6-11e3-99d9-00000aab0f01&acdnat=1394615631_782b65a7b4a65cc35b795363f0df0acb 
www.sciencedirect.com/science/article/pii/S0378778804003329

Undergoing an admission process (an initiation) can induce exaggerated feelings about a group, but there is little research about the role of rewards. This study replicated Aronson and Mills’ (1959) experiment. Seventy participants underwent either a severe initiation or a mild initiation. After the initiation, about half the sample received an extrinsic reward for merely completing the task. The remaining half did not receive an extrinsic reward. This was to vary the amount of dissonance. Initiation severity and reward condition had significant, noncrossing interactions. A reward led to higher group identity than no reward, supporting Levine and Moreland's (1994) group socialization model. A severe initiation did not lead to more group identity than a mild initiation; therefore, Aronson and Mills’ findings were not replicated. Interestingly, a mild initiation followed by a reward led to more group identity than a severe initiation followed by a reward. Another unexpected finding was that the extrinsic reward made no difference to group identity if the initiation was severe. Effects on ratings of the discussion were nonsignificant. Future research needs to establish how new group members ponder the severity of the admission process during the cost–benefit calculation preceding their identification with a group.

It is challenging to become rich by working for someone, wealth and riches come by changing our narrative and rhetoric to fit our strategic agenda  for change . Financial freedom is about taking ownership of your finances as you build your wealth . Financial freedom means that you get to make life decisions without being overly stressed about the financial impact because you are prepared. You control your finances instead of being controlled by them. Imagine waking up every day without the financial burdens of this life. What would it look like to work at a job you love, instead of one that simply pays the bills? Or to not have to work at all. To live your life without economic limits. To retire early if you so choose. But what are the steps to reach this reality?

This paper examines the ethics of distributing limited resources when demand exceeds supply. I examine two ethical theories, egalitarianism and utilitarianism, applied to an example of allocating hearts to children who have cardiac failure. I examine the strengths and weaknesses of these approaches. I argue that we must include some concern for equality of access (equal treatment for equal need). But this should occur within a context of first evaluating the impact of a medical intervention on how long an individual will live, his or her quality of life and the probability of the intervention succeeding. I propose a third more plausible approach: ‘a fair go’. I also examine whether the cost of treatment, the existence of dependants and responsibility for illness should play a part in the allocation of limited resources. Finally, I briefly discuss the role of patients and their family in making these decisions.

1. INTRODUÇÃO
A economia é uma ciência pouco compreendida e propensa a uma miríade de interpretações equivocadas. Contudo, economistas desenvolveram conceitos e raciocínios cujo correto entendimento seria indispensável para a tomada de decisão – principalmente as decisões relativas a políticas públicas, dado que afetam um grande número de pessoas. Dentro do que cabe no espaço de três aulas, compreenderemos devidamente alguns desses conceitos essenciais.

2. OBJETIVOS
O curso possui três objetivos principais:
a. Apresentar conceitos essenciais que são úteis para melhorar a elaboração e aplicação de qualquer política pública;
b. Trazer exemplos de políticas públicas bem-sucedidas e malsucedidas para instigar o debate e ilustrar os conceitos;
c. Apontar caminhos e fontes de informação para aqueles interessados na perspectiva da Evidence-Based Policy.

3. RESULTADOS ESPERADOS
Espera-se que o estudante que participe das aulas ativamente consiga visualizar um pouco melhor a complexidade de alguns fenômenos econômicos e comportamentais que impõem dificuldades para a elaboração e execução de quaisquer políticas públicas.

Purpose: Drug-coated balloons (DCBs) for femoropopliteal peripheral artery disease have been shown to be clinically superior and cost-effective compared to conventional percutaneous transluminal angioplasty (PTA). However, few studies enrolled patients with chronic limb-threatening ischemia (CLTI). Our objective was to study the cost-effectiveness of endovascular treatment with versus without DCB in CLTI patient populations in the Netherlands and Germany.

Material and methods: Target lesion revascularization (TLR) and major amputation rates were obtained from the CLTI subgroup of the IN.PACT Global study. Rates for "status quo" treatment involving PTA with primary or bailout stenting were derived from systematic literature search. Costs and cost-effectiveness were calculated using a decision-analytic Markov model considering, in the base case, a 2-year horizon, and strategy-specific quality-adjusted life year (QALY) gains calculated from survival and health state-specific utilities. A willingness-to-pay threshold of €50,000/QALY was assumed, and extensive sensitivity analyses were performed.

Results: Model-projected 24-month probabilities of TLR were 26.2% and 32.8% for treatment with and without DCB, and probabilities for amputation were 2.8% and 11.9%, respectively. DCB added 0.017 QALYs while saving €1,030 in the Dutch setting and €513 in the German setting, respectively. DCB was found dominant or cost-effective across a wide range of assumptions.

Conclusion: Urea excipient drug-coated balloon therapy for treating CLTI from femoropopliteal artery disease is associated with improved patient outcomes and expected overall cost savings to payers in the Dutch and German healthcare systems, rendering it a cost-effective and likely dominant treatment strategy.

This paper focuses on problems and their causes and cures in policy and planning for large infrastructure projects. First, the paper identifies as the main problem in major infrastructure developments pervasive misinformation about the costs, benefits, and risks involved. A consequence of misinformation is massive cost overruns, benefit shortfalls, and waste. Second, the paper explores the causes of misinformation and finds that political-economic explanations best account for the available evidence: planners and promoters deliberately misrepresent costs, benefits, and risks in order to increase the likelihood that it is their projects, and not the competition's, that gain approval and funding. This results in the "survival of the unfittest," where often it is not the best projects that are built, but the most misrepresented ones. Finally, the paper presents measures for reforming policy and planning for large infrastructure projects with a focus on better planning methods and changed governance-structures, the latter being more important.

One of the practical problems faced by managers when choosing between alternatives (including whether or not to invest in a particular foreign project), is how to deal with the uncertainty of the outcome(s). The majority of textbooks split the methodology into three main streams. These can be summarized in the following way: representing the cash flows by their expected values and increasing the rate of return in order to outweigh the possibilities for unfavourable outcomes; expressing uncertainty related to the cash flows and applying the risk free discount rate; and finally a combination of the two - expressing uncertainty in the cash flows and discounting with a risk adjusted discount rate (RADR). In theory, it is proved that all three approaches to account for additional risk related to country specific characteristics can be applied interchangeably. Based on this concept, our research examined the hypothesis that the RADR method, containing Country Risk premium, can be applied as an equivalent of probability weighted scenarios (PWS) approach in a process of accounting for Country Risk in the expected Net Present Value (NPV) calculation for Foreign Direct Investment (FDI). The deliberate intervention on a micro scale has been identified as an appropriate approach in order to test the stated hypothesis.

The experiment was run on a sample taken from the FDI portfolio of oil and gas company, which consists of 24 investment cases performed in six countries. The results of this experiment support the hypothesis that, for the tested population, the RADR method is not an equivalent of the PWS approach and that both cannot be used interchangeably to account for Country Risk in the process of FDI appraisal.

This paper conducts a preliminary analysis of detailed user data of bike share programs in three US cities: New York, Boston and Chicago. Usage shares by gender and location are mapped and discussed. Possible reasons for usage differences are presented and planning and policy implications are offered. Many more men than women use bike share in all three cities. The difference is generally by close to an order of magnitude. Thus the gender split in regular bike usage is mirrored in bike share in Boston, Chicago and New York. 2

Kombucha is a traditional fermented beverage and it is produced by the fermentation of tea and sugar. Many beneficial effects to the human body can be achieved using substances with antioxidative prop- erties. Substrates for kombucha fermentation contain antioxidants which originated from tea leaves. This study is conducted by kombucha beverage production device that has been invented by authors, located in the Tehran province, Iran. Data is collected from a kombucha beverage production device, performed by 23 replications in capacity of 4.5 L during January–December 2014. Total energy inputs and outputs were calculated as 2.77 MJ L
1 and 8.69 MJ L
1, respectively, therefore the energy productivity and net energy value are estimated as 0.38 kg MJ
1 and 5.92 MJ L
1, respectively. The results show that the highest share of energy is consumed by sugar (40.9%) and kombucha beverage (29%). The ratio of energy outputs to energy inputs is approximately 3.14. The shares of renewable and direct energy were 15.7% and 91.5%, respectively from the total energy input. The net return and productivity from kombucha beverage production were found to be 0.38$ L
1 and 1.03 kg $
1, respectively. The results showed that by increasing volume of kombucha beverage production device, input costs (kombucha fungus, elec- tricity, machinery and rent land expense) will decrease because of proration costs.

This thesis tries to examine the underlying ABC theory and its applicability and practicability in the Hellenic Air Force. The assumption is that if ABC can provide a better management of HAF's resources costs, then HAF will have the opportunity to enhance its defence capabilities.

Income capitalization is a widely used in commercial property for valuation, development appraisal or for project feasibility analysis. As a decision-making tool, its technical and philosophical limitations are manifest but often overlooked. If bungled, capitalization, can lead to ‘white elephant’ projects, investment losses, corporate collapse. To avoid such waste, the research investigates capitalisation technical issues and philosophical conundrums. Sound capitalization practice scopes project and clarifies valuation base(s). Market comparison, risk diagnostics and analytics help render complex data to estimate yields or an appropriate discount rate. For a project feasibility analysis, supplementary salient concerns include wider strategic imperatives, indigenous land rights, stakeholder management, administrative probity and the inclusion of environmental or social spillovers.

Many school systems, in both the developed and developing world, are implementing educational technology to assist in student learning. However, there is no clear consensus on how to evaluate these new technologies. This paper proposes a comprehensive methodology for estimating the value of a new educational technology in three steps: benefit analysis, through the administration of a well-designed experiment; cost analysis, which incorporates costs to weigh against the benefits; and feasibility analysis, which introduces real-world concerns that may affect the ability to actually implement the technology. To illustrate the methodology, a case study from Chile is used where portable educational video games were introduced into first and second grade classrooms with the aim of improving learning in mathematics and language. This paper demonstrates the importance of all three steps in the evaluation process and provides a framework for future analyses

The purpose of this paper is to find the benefits of the Autonomous technology and to encourage the Transit agencies to implement the Autonomous bus into the fleet. This main aim of this paper is to find the incremental costs and benefits of an Autonomous bus over a traditional 40’ diesel bus. It guides the transit agencies whether the autonomous bus is feasible or not. This paper provides all the costs and benefits occurred for an Autonomous bus in its lifetime. The current transit system across the USA use traditional diesel buses. It creates GHG emissions and not environmentally friendly. It consumes hundred thousand gallons of diesel per bus every year. The traditional diesel buses are also a reason for fatalities, injuries, and incidents. It doesn’t produce any benefits (excluding advertisements, tickets, etc.) to the transit agency.
A Cost-Benefit Analysis is used to find the costs and benefits of an Autonomous Bus. Six different alternatives are considered based on size and fuel type. The agency can select the specific alternative based on their ridership, budget and timeframe.
Cost-Benefit Analysis proved that the Autonomous technology is wiser than the traditional diesel buses. It saves the transit agency from capital & operational costs, reduces the environment affects and increase the quality of life of the people. Automation is beneficial in all perspectives.

The COVID-19 pandemic mitigation policies were often justified on benefit-cost analysis (BCA) grounds, where the value of a statistical life (VSL) measures the benefit of saving lives. I argue that a BCA and VSL framework is not a value-neutral basis for pandemic policy, for two reasons. First, its characterization of labor-market behavior as mere choices regarding money and mortality risk implicitly endorses the institutions that constrain those choices. I illustrate this point using economic conditions under the pandemic. Second, it assumes individuals have just one “true” valuation because preferences are exogenous, and thus ignores how subjectivity is constituted by capitalist institutions. I use VSL estimates in pandemic scholarship as an illustration of the search for a single valuation regarding elderly life. I further argue that the “good” of human life warrants valuation in our capacity as citizens in democratic institutions, rather than as agents in a market. Lastly, I use the language of overdetermination to highlight the contradictory effects of the mutual constitution of institutions and the individual subject.

Total Maximum Daily Load (TMDL) implementation generates benefits and costs from water quality improvements, which are rarely quantified. This analysis examines a TMDL written to address bacteria and aquatic‐life‐use impairments on Abrams and Opequon Creeks in Virginia. Benefits were estimated using a contingent valuation survey of local residents. Costs were based on the number and type of best management practices (BMPs) necessary to achieve TMDL pollution reduction goals. BMPs were quantified using watershed‐scale water quality simulation models (Generalized Watershed Loading Function and Hydrological Simulation Program‐FORTRAN). Based on our projections, the costs to achieve TMDL induced pollution reduction goals outweigh the estimated benefits. Benefit‐cost ratios ranged between 0.1 and 0.3.

"Many countries now suffer from shortage in fresh water, hence, currently 125 countries around the
world are taking advantage of desalination methods to access fresh water from brackish and seawater.
As desalination is one of the important processes for producing potable water that can be used for human
consumption, irrigation and industry. In the last decades, many researchers have been conducted to
minimize the cost of this process, and several methods have been developed. Among these methods,
distillation appears as one of the best practical and the most economical, especially for mass production
of fresh water from high saline water like seawater. On the other hand, most of the ongoing desalination
researches concentrate on large-scale plants which are suitable for mass production of fresh water. A
few researches have been conducted on small scale water distillation. This study will focus on different
distillation methods for small scale production of potable water which is suitable for domestic, small
factories, laboratories, and emergency use. This review presents various technologies available for small
scale distillation with focus on Refro-distiller systems. Consequently, the theoretical analysis to determine
the efficiency and energy costs are presented."

http://www.sciencedirect.com/science/article/pii/S1364032111003224

Humanity faces many important decisions about space exploration. An important but controversial decision making paradigm is cost-benefit analysis (CBA). This paper discusses some ethical considerations in CBA that are important to decision making about space exploration, including: how we define costs and benefits; space exploration's non-market value; the standing of future humans and of extraterrestrials; and the role of discounting in evaluating long-term space exploration projects.

The effects of the delay in construction contract execution are always negative for every party being involved. Cancelling the delays of the time schedule means the use of more production means that it was planned. It creates an additional cost. If the delays of the schedule are not cancelled, the contractor suffers from the cost increase. The penalties arisen from not keeping the milestones or the completion date are expected too. There is a trade-off: cancelling delays spending additional money now (during the contract execution) or executing a delayed contract till its end awaiting for its final settlement (showing the cost increase) and possible penalties. There is no one, correct answer how to manage a delayed construction project. There is a natural unwillingness to spend money over the budget. Nevertheless, the delayed completion date can cause much higher contractor's expenses, than cancelling delays during the contract execution. The decisions made by the project manager depend on various factors discussed in the paper. A delay concerning the single task increases the cost of its execution at a different level. The same, the level of influence of delaying a single task, influences the completion date with varied strength. These influences depend on the location of the task in a net model-the base of a schedule. The tasks located on the critical path-defined in the Critical Path Method-should be of the special care. However, delays on not critical tasks can also break the budget and the planned completion date. The nature of delay is important as well. Lowered productivity of a workers' brigade can make the execution of the task longer, the same as forced breaks in their efficient work. The reaction of a site manager to such causes of delay should be different, as the origin of the delays is different. The impact of the delay noticed on the single task is discussed in the paper and possible reaction (varied on the type of a delay and a task location too) are proposed. The proposed solutions aim at cost minimizing considering the total expenses spent by a contractor and possible penalties in case of the delayed completion date of a construction contract.

In this paper an analysis of energy use and energy conservation in the Malaysian rubber producing industries is presented. It has been found that rubber industries consume a substantial amount of energy. Excessive use of energy is usually associated with many industrial plants worldwide, and rubber plants are no exception. This study is based on the realization that enormous potential exists for cost-effective improvements in the existing energy-using equipment. Through the method of a walkthrough energy audit, power rating, operation time of energy-consuming equipment/machineries and power factor were collected. The data were then analyzed to investigate the breakdown of end-use equipment/machineries energy use. The results of the energy audit in the Malaysian rubber and rubber producing industries showed that the electric motor accounts for a major fraction of total energy consumption followed by pumps, heaters, cooling systems and lighting. Since the electric motor takes up a substantial amount of the total energy used in rubber industries, energy-savings strategies such as the use of high efficient motors, and variable speed drive (VSD) have been used to reduce energy consumption of motors used in rubber industries. Energy-savings strategies for compressed-air systems, boilers, and chillers have also been applied to estimate energy and cost savings. It has been found that significant amount of energy and; utility bills can be saved along with the reduction of emission by applying the foretold strategies for energy using machineries in the rubber industries.

http://www.sciencedirect.com/science/article/pii/S0306261909005558

Buildings are the largest consumer of energy and a major source of greenhouse gas (GHG) emission. This incurs a large sum of money to society. It is evident that incorporating green features in buildings can substantially save energy and water consumption, and reduces GHG emissions; however, it is perceived to be costly both by public and private sectors. Often, the investment decisions are made considering the initial cost of the project. Therefore, the purpose of this research is to identify the costs and potential benefits of green buildings over the life cycle of the project using Cost Benefit Analysis (CBA), which performs an economic assessment in project appraisal that helps investors and policymakers in better decision making. The study involves a case study of a public office building from Nepal, which is located at Dumre-Bhansar New Town. The existing building is retrofitted with green components such as solar panels and rainwater harvesting for energy efficiency and water efficiency. The results show that investing in green buildings reduce the life cycle cost of the project, and therefore generates value for money in public investment in the long run. A policy recommendation on subsidy helps in scaling the project to private sectors especially residential buildings. The most important contribution of this study lies in identifying the costs and benefits of green building and introducing the concept of life cycle cost using CBA, which increases awareness and removes barriers in implementing green technologies. This paper also acts as an introductory guideline for project appraisal and formulating policies for the Government of Nepal

This study provides an independent, outside-in estimate of the cost and schedule risks of nuclear waste storage projects. Based on a reference class of 216 past, comparable projects, risk of cost overrun was found to be 202% or less, with 80% certainty, i.e., 20% risk of an overrun above 202%. Based on a reference class of 200 past, comparable projects, risk of schedule overrun was found to be 104% or less, with 80% certainty, i.e., 20% risk of overrun above 104%. Cost risk and schedule risk are both substantial for nuclear waste storage projects.

The Mornington Island Restorative Justice program (MIRJ) is an innovative and community driven dispute resolution initiative. This CBA values the social impacts (impact on society’s wellbeing) of the program in economic terms. The MIRJ program returns economic benefits that far exceed its economic costs. This is true both for the decision to establish the program in 2008, and for the decision in 2015 to continue the program. Sensitivity analysis shows this is a very robust conclusion.
Published by the Junkuri Laka Wellesley Islands Aboriginal Law, Justice and Governance Association Inc.

"Chronic kidney disease is defi ned as a reduced glomerular fi ltration rate, increased urinary albumin excretion, or
both, and is an increasing public health issue. Prevalence is estimated to be 8–16% worldwide. Complications include
increased all-cause and cardiovascular mortality, kidney-disease progression, acute kidney injury, cognitive decline,
anaemia, mineral and bone disorders, and fractures. Worldwide, diabetes mellitus is the most common cause of
chronic kidney disease, but in some regions other causes, such as herbal and environmental toxins, are more
common. The poorest populations are at the highest risk. Screening and intervention can prevent chronic kidney
disease, and where management strategies have been implemented the incidence of end-stage kidney disease has
been reduced. Awareness of the disorder, however, remains low in many communities and among many physicians.
Strategies to reduce burden and costs related to chronic kidney disease need to be included in national programmes
for non-communicable diseases."

In-plant training is one of the requirements for the award of the Degree in Bachelor of Technology in Mechanical Engineering of Maharashtra Institute of Technology. As such, students are required to write and submit reports at the end of their training.
This report is the record of the work I personally did and experience I gained during my in-plant training at Varroc Engineering Ltd. Plant- VII (valve) from 4th Jan to 16th May 2018.
It consists of six chapters which altogether explain the background of training, entail background information about Varroc Engineering Ltd., Manufacturing processes, Inspection and Testing, the hands-on activities which I took part in and about the project I did on tooling cost reduction by optimizing the design of bottom die holder.

This study probes the effects of the currency swap agreement between the Nigerian government through the Central Bank of Nigeria (CBN) and the Chinese government through the People's Bank of China (PBC). The objectives of this paper are to define the concepts of currency swap, review relevant literature, and analyze its policy implication on the Nigerian economy. The Bilateral Currency Swap Agreement (BLCSA) between the CBN and the PBC, aims to achieve foreign exchange stability and hedge the naira from volatility both in the short and long run of each business cycle. The literature reviewed suggests the BLCSA would eliminate the unnecessary rigors involved in trade between Nigeria and China businesses and reduce the demand of the United States (US) dollar. Although a step in the right direction, this solution is a temporary fix when a permanent solution is needed. The study's recommendations will elicit the necessary responses from the CBN, PBC, stakeholders, China, and Nigeria government on the benefits of the BLCSA *

Purpose – Despite the flourishing literature on intellectual capital, few studies explored its features in the perspective of family firms, and even fewer focused on small family firms (SFFs). This multiple case study analyses how managers and senior employees in SFFs perceive the benefits and costs of intellectual capital assets (ICAs) and provides many insights for future researches. Design/methodology/approach – Taking the lead from the constructivist epistemology, this instrumental study describes the implementation of a framework for the assessment of ICAs into four SFFs in order to develop general theoretical principles. Findings – Among the findings, it stands out that most SFFs in the sample especially rely on their internal processes and on their human resources' knowledge and competences. Furthermore, we found much internal disagreement with respect to the expected costs of investing on ICAs, especially within firms operating in more turbulent markets. Research limitations/implications – Being referred to a multiple case study, the results may not be generalized to other organizations. Nevertheless, they are useful to build theory, either by verification of falsification, and to encourage their future testing in empirical papers. Practical implications – The implementation of the framework allows identifying internal disagreement with respect to the ICAs' costs and benefits and exploring their causes. Furthermore, it suggests which should be the ICAs deserving primary attention in order to have the best impact on value creation. Originality/value – The paper investigates intellectual capital in SFFs, thus contributing to fill a remarkable gap in intellectual capital literature.

Ethics as espoused by philosophers and employed as a control mechanism by the many instruments of power, seems to be more a construct of what ‘ought’ than what ‘is’ , detracting away from genetically coded Ethical Thinking within regions of the brain associated with the social and individual sense of self. This is perhaps why Ethical control mechanisms, derived from traditional Ethics instruction, often break down when clear thinking is required most. Even under periods of extreme stress however, when higher neuronal functions impacting thought and reasoning are impaired, precluding access to the self-restraint and control introduced through ethics training, those regions of the brain dealing with self-preservation are yet quite active. And central to self-perseveration is the brains native ability to conduct complex Cost-Benefit Analysis (CBA) with respect to individual survival. Ethical instruction molded to how the brain conducts individualized CBA, and introduced as an integral part of daily training and activity, might very well provide for a more effective means by which to ensure Ethical Thinking when it is absolutely essential.

Most cost-benefit analyses assume that the estimates of costs and benefits are more or less accurate and unbiased. But what if, in reality, estimates of costs and benefits are highly inaccurate and biased? Then the assumption that cost-benefit analysis is a rational way to improve resource allocation would be a fallacy. Using the largest dataset of its kind, we test the assumption that cost and benefit estimates of infrastructure capital investments are accurate and unbiased. We find this is not the case with overwhelming statistical significance. We document the extent of cost overruns, demand shortfalls, and forecasting bias in infrastructure investments. We further assess whether such forecasting inaccuracies seriously distort effective resource allocation, which is found to be the case. We explain our findings in behavioral terms and explore their implications for infrastructure economics and policy. Finally, we conclude that cost-benefit analysis stands in need of reform, and we outline four steps to such reform.

This introductory paper discusses how Namibia can participate and benefit from global decarbonisation efforts. It is intended to inform and contribute to rational and fact-based deliberations on the many issues, challenges, and opportunities for green hydrogen production in the country.

This article examines five common misunderstandings about case-study research: (a) theoretical knowledge is more valuable than practical knowledge; (b) one cannot generalize from a single case, therefore, the single-case study cannot contribute to scientific development; (c) the case study is most useful for generating hypotheses, whereas other methods are more suitable for hypotheses testing and theory building; (d) the case study contains a bias toward verification; and (e) it is often difficult to summarize specific case studies. This article explains and corrects these misunderstandings one by one and concludes with the Kuhnian insight that a scientific discipline without a large number of thoroughly executed case studies is a discipline without systematic production of exemplars, and a discipline without exemplars is an ineffective one. Social science may be strengthened by the execution of a greater number of good case studies.

O Sistema Agroflorestal Cabruca (SAC) é um caso sui generis de lavoura compatível com o Pagamento por Serviços Ambientais (PSA). O presente trabalho analisa circunstâncias que envolvem a aplicação do PSA no SAC. O objetivo geral é esquematizar uma metodologia de valoração do PSA para o SAC, a fim de difundir a aplicação desses instrumentos na região produtora de cacau da Bahia. Especificamente objetiva-se identificar os serviços ambientais prestados pelo SAC que se adequam à lei de PSA do Estado da Bahia, qual seja, a Lei Estadual nº 13.223/2015; quantificar o custo de oportunidade de adoção da lavoura cacaueira pelo SAC para servir de base à metodologia de valoração do PSA; e identificar uma metodologia de valoração do PSA relativo ao SAC. A questão ambiental contemporânea é contextualizada a partir do histórico da região produtora de cacau na Bahia juntamente com a atual conjuntura. Detalha o PSA, verificando as bases teóricas e o marco legal aplicado à realidade baiana, inserindo-o no contexto de produção do cacau no SAC. Para tanto, é desenvolvida uma metodologia de valoração econômica dos serviços ambientais prestados pelo SAC que atenda à legislação pertinente e seja razoável, sob o ponto de vista econômico. A metodologia delineada refere-se ao custo de oportunidade entre a lavoura de cacau cultivada na forma do SAC e a lavoura de cacau cultivada a pleno sol. Considera como custo de oportunidade a perda de produção provocada pelo sombreamento no SAC. De acordo com a realidade aqui analisada, os serviços ambientais prestados pelo SAC se enquadram na Lei Estadual nº 13.223/2015 e podem fazer com que o SAC figure como área beneficiada por programa de PSA. Assim, foram elaborados cenários buscando-se estimar os custos e benefícios (receitas) para o agricultor que mantém serviços ambientais, com vistas a informar eventual programa de PSA. Foram estimados o valor dos serviços prestados, a transferência de renda máxima e os impactos no orçamento do Estado da Bahia, no orçamento da Secretaria de Meio Ambiente do Estado da Bahia, no PIB baiano e no PIB dos municípios produtores de cacau. Os diferentes cenários e simulações foram estruturados de forma que se possa ter uma configuração mais próxima da realidade estudada. Conclui que os valores estimados para a política de PSA são razoáveis, inclusive quanto ao preço do serviço. Os valores máximos indicaram que eventual política de PSA deve considerar a captação de recursos privados; sem olvidar a participação do orçamento público, possibilitando um fundo misto. A transferência de renda apontada melhora a competitividade do produtor, remunerando-o pelo serviço ambiental prestado, e ainda reintroduz a externalidade negativa na contabilidade da atividade degradadora. O SAC responde positivamente aos anseios locais e globais em matéria ambiental, contribui para a conservação do bioma Mata Atlântica e assume a característica de um sistema de produção sustentável.