Evaluating Infrastructure Projects under Risk and Uncertainty: A Checklist of Issues | Zendy

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Evaluating Infrastructure Projects under Risk and Uncertainty: A Checklist of Issues

Author(s) -

Clarke Harry

Publication year - 2014

Publication title -

australian economic review

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.308

H-Index - 29

eISSN - 1467-8462

pISSN - 0004-9018

DOI - 10.1111/1467-8462.12047

Subject(s) - checklist , investment (military) , ignorance , risk analysis (engineering) , actuarial science , risk assessment , business , economics , management science , finance , political science , psychology , management , politics , law , cognitive psychology

The implications of risk, investment irreversibility and learning for infrastructure project assessment are considered, using investment in desalination as a case study. Both qualitative insights from ‘real options ’ approaches and arguments based on policy‐maker risk aversion to investment appraisal are summarised. A checklist of key issues is presented. Remarks are also made about how pure uncertainty and gross ignorance can influence policy determination .

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