This paper describes conditions under which one investment project dominates a second project in terms of net present value, irrespective of the choice of the discount rate. The resulting partial ordering of projects has certain similarities to stochastic dominance. However, the structure of the...

This paper describes conditions under which one investment project dominates a second project in terms of net present value, irrespective of the choice of the discount rate. The resulting partial ordering of projects has certain similarities to stochastic dominance. However, the structure of the...

In this paper we propose the use of an alternative methodology to track low incomes based on Atkinson's (1970) family of "equally distributed equivalent income" functions, which are called "general means" here. We provide a new characterization of general means that justifies their use in this...

Head Start is a comprehensive, early childhood development program designed to augment the human capital and health capital levels of disadvantaged children. Evaluations of Head Start have tended to focus on cognitive outcomes; however, there is increasing recognition that other important...