This paper presents a general framework for analyzing shadow wages in LDCs. We focus on (i) the differences between the domestic and international prices, (ii) the equilibrating mechanisms in the economy, (iii) the endogeneity of earnings in industry and agriculture, (iv) the consequences of...

This thesis analyzes capital budgeting and takes particularly care of the portfolio aspect. This aspect is introduced when evaluating projects or businesses on the level of an entire company. The following key elements are identified: customer demand, production costs, diversification and...

One of the most important criteria in classifying investment projects is economic dependence between new and existing projects. Economic dependence causes the neccessity of specific information in decision making process. The prerequisite of shaping incremental effects projections is to take...

The increasing demand for transport services in Indian cities has been observed due to increases in population, increases in household income, and increases in economic activities. Traffic congestion problem is a serious hindrance to economic growth as transport is a basic economic...

In the classical literature of innovation-based endogenous growth, the main engine of long run economic growth is firm entry. Nevertheless, when projects are heterogeneous, and good ideas are scarce, a mass-composition trade off is introduced into this link: larger cohorts are characterized by a...

We study a Bayesian game of two-sided incomplete information in which an agent, who owns a project of unknown quality, considers proposing it to an evaluator, who has the choice of whether or not to accept it. There exist two distinct tiers of evaluation that differ in the benefits they deliver...

In the UK there is a need to provide more housing in order to meet increased demand. The problem is particularly acute in the social housing sector. There is also a drive to reduce CO2 emissions from housing, whilst addressing issues of social sustainability. Accordingly governments have sought...

This paper studies a model in which an agent considers proposing a project of unknown quality to an evaluator, who has to decide on whether or not to accept it. Earlier papers considered the case when the evaluation is perfect and showed than higher submission fees increase the expected quality...

Early in 2006 a brief report arrived at Exxon Mobil's headquarters in Irving, Texas, with the results of geological tests in the south of Argentina. The tests determined that the area explored seemed to be rich in oil and that, subject to a proper cost-benefit analysis, it could be worth...

The economic evaluation of ultra-long-lived investment projects is not only challenging due to the choice of the planning horizon but also due to the discounting of future uncertain cash flows. Thus, for real world investment decisions a better understanding of the project's risks and their...