... ECONOMIC ANALYSIS OF PROJECTS 1
GUIDELINES FOR THE ECONOMIC ANALYSIS OF PROJECTS
I. INTRODUCTION
1. These guidelines provide a general approach for the economic analysis of projects for
application ... investment. The analysis of investment operations and the analysis of
policy-based alternatives can flow from the application of the same for...
... recognised that there are other applications of product tracing. These applications should be consistent with the
provisions of the SPS and TBT Agreements. The application of product tracing to the areas ... scientific knowledge and other
information relevant to risk analysis.
30. Recognizing the rapid pace of development in the field of biotechnology, the approach...
...
evidence for a brother or uncle of L - these nodes are
closed off, as only the last brother of any particular
level is open for further expansion. To determine the
appropriateness of this algorithm ... whether one is
evidence for
the
other. With this "accepted"
authority, a representation for the argument can be
built as the analysis proceeds. (The...
... distribution of bequests that become initial endowments of a
subsequent generation. Thus, analysis of the long-term effects of changes
in longevity has to focus on the (ergodic) evolution of the distribution
of ... by
individuals, that is, to a certain direction of the behavioral effect. For
example, the common use of life expectancy as the explanatory variable...
... description of the
motivation for and the stipulations of these annuities from a textbook
for actuaries:
These are usually effected to avoid the disappointment that is often felt in
the event of the ... follow the standard
assumption that the sign of the price of each good changes in the opposite
direction to the sign of profits from sales of this good.
T...
... survival function, the purchase or sale
of a long-term annuity is equivalent to a sequence of purchases or
sales of short-term annuities. However, upon the arrival of information
on and the differentiation ... On the other
hand, long-term annuities purchased prior to the arrival of risk-class
information yield a predetermined flow of returns which, in equilibrium,
reflect...
... owners. The other risk class experiences a
loss for the opposite reason.
Another important implication of the fact that in equilibrium con-
sumption is independent of the state of nature is the following. ... probabilities. The reason for this inefficiency is that
individuals disregard the effect of their actions on the equilibrium rate
of return on annuities. Th...
... the availability
of assets that provide satisfactory coverage for the obligations of these
firms. In both countries, there is a high degree of concentration of
annuity providers (Prudential, for ... The cause of the inefficiency is that individuals disregard the
effect of their actions on the equilibrium rate of return on annuities.
Essentially, these distortions a...
... addition
to longevity risk. Further, to respond to the desire of individuals for
flexibility, the model should allow for short sales of annuities purchased
early or the purchase of additional short-term ... =
ˆ
q
r
0
− r), these
two schemes are equivalent.
In addition to the above discussion about the advantages of the flexi-
bility offered by holding a portfolio of op...
... on the economics of incomplete information. Quarterly
Journal of Economics 90: 624–649.
Salanie, B. 2000. Microeconomics of Market Failure. Cambridge, MA: MIT
Press.
Salanie, B. 2003. The Economics ... 1994. Averting the Old Age Crisis: Policies to Protect the Old and
Promote Growth. Oxford: Oxford University Press.
Yaari, M. 1965. Uncertain lifetime, life insurance and the th...