'PUBLIC INVESTMENT CRITERIA' (DAVISSON): COMMENTARY ONE, COMMENTARY TWO, COMMENTARY THREE, REJOINDER

THREE COMMENTATORS EACH QUESTION ESSENTIALLY DIFFERENT ASPECTS OF AN EARLIER PAPER BY DAVISSON. CAREY QUESTIONS THE ABILITY TO DETERMINE MARKET RATE OF INTEREST. NICHOLS QUESTIONS DAVISSON'S ARGUMENT AGAINST THE BENEFIT/COST METHOD AND THE COMBINED USE OF INTERNAL RATE OF RETURN AND MARKET RATE IN A PRESENT VALUE ANALYSIS. NICHOLS CONCLUDES THAT DAVISSON'S ARTICLE THREATENS TO MISLEAD THOSE WHO ARE INITIATING INQUIRY INTO THE RUN. IULO FINDS DAVISSON'S EXAMPLES UNSATISFACTORY AND CONTENDS THAT ECONOMIC THEORY PROVIDES ONLY AN INDETERMINATE ANSWER TO THE COST ALLOCATION QUESTION WHEN MULTIPLE PRODUCTS ARE PRODUCED BY A PROJECT. DAVISSON SUMMARIZES HIS EARLIER ARTICLE AND ANSWERS EACH OF THE COMMENTATORS WITH NO ESSENTIAL CHANGE IN HIS POSITION. /BPR/

  • Availability:
  • Supplemental Notes:
    • Vol 42, pp 532-542
  • Authors:
    • Carey, O L
    • Nichols, A
    • Iulo, W
    • Davisson, W I
  • Publication Date: 1966-11

Media Info

  • Serial:
    • Land Economics
    • Publisher: University of Wisconsin Press
    • ISSN: 0023-7639

Subject/Index Terms

Filing Info

  • Accession Number: 00201397
  • Record Type: Publication
  • Source Agency: Traffic Systems Reviews & Abstracts
  • Files: TRIS
  • Created Date: May 5 1970 12:00AM