The Little-Mirrlees Appraisal of a Highway Project in Malaysia

The Little-Mirrlees Appraisal of a Highway Project in Malaysia

Application to a highway project of the LM method of project appraisal presents some special difficulties. This paper explains how it was done. The results in this case were very similar to those of a conventional appraisal. After a risk analysis the project was judged to be economically acceptable.

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