Please see revised/updated version of this paper - Working Paper 1507 published April 2015.

Environmental agencies and utilities wishing to support environmental projects face the challenge of deciding which of the many possible projects they should support with their limited resources. Projects vary greatly in their benefits and costs, so selecting the best projects can make a major...

Water agencies and utilities wishing to support water-sensitive projects face the challenge of deciding which of the many possible projects they should support with their limited resources. Projects vary greatly in their benefits and costs, so selecting the best projects can make a major...