Economic analysis/cost-benefit analysis

2016 ◽  
pp. 287-308
Author(s):  
Chun-Lien Su ◽  
Jen-Hao Teng
Keyword(s):  
Economic Analysis ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis

scholarly journals Economic Analysis of the Use of VCS2000 for Pork Carcass Meat Yield Grading in Korea

Animals ◽  
2021 ◽  
Vol 11 (5) ◽  
pp. 1297
Author(s):  
Juntae Kim ◽  
Hyo-Dong Han ◽  
Wang Yeol Lee ◽  
Collins Wakholi ◽  
Jayoung Lee ◽  
...  
Keyword(s):  
Economic Analysis ◽  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Feed Consumption ◽  
Cost Ratio ◽  
Benefit Analysis ◽  
Labor Costs ◽  
Meat Yield ◽  
The Cost

Currently, the pork industry is incorporating in-line automation with the aim of increasing the slaughtered pork carcass throughput while monitoring quality and safety. In Korea, 21 parameters (such as back-fat thickness and carcass weight) are used for quality grading of pork carcasses. Recently, the VCS2000 system—an automatic meat yield grading machine system—was introduced to enhance grading efficiency and therefore increase pork carcass production. The VCS2000 system is able to predict pork carcass yield based on image analysis. This study also conducted an economic analysis of the system using a cost—benefit analysis. The subsection items of the cost-benefit analysis considered were net present value (NPV), internal rate of return (IRR), and benefit/cost ratio (BC ratio), and each method was verified through sensitivity analysis. For our analysis, the benefits were grouped into three categories: the benefits of reducing labor costs, the benefits of improving meat yield production, and the benefits of reducing pig feed consumption through optimization. The cost-benefit analysis of the system resulted in an NPV of approximately 615.6 million Korean won, an IRR of 13.52%, and a B/C ratio of 1.65.

scholarly journals Application of Economic Indicators to Asses the Bridges of Rehablitation

2015 ◽  
Vol 11 (1) ◽  
pp. 69-75
Author(s):  
Martin Pitoňák ◽  
Milan Valuch
Keyword(s):  
Economic Analysis ◽  
Regional Development ◽  
Economic Efficiency ◽  
Current Practice ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Economic Indicators ◽  
Concrete Bridge ◽  
Benefit Analysis ◽  
Technology Project

Abstract The aim of this paper is to point out the advantage of Cost Benefit Analysis (CBA) and its economic indicators to assess a rehabilitation of bridges. The paper includes short example of assessment of the project economic efficiency in which economic indicators are applied in order to evaluate of two technology project variants of bridge object rehabilitation. It quantifies and compares the economic results of alternative 1 with the monolithic prestress construction and alternative 2, with the composite steel - concrete bridge. The contribution reflects the current practice of economic analysis recommended by the Ministry of Transport, Construction and Regional Development.

scholarly journals Economic analysis of ecosystem based adaptation and engineering options: A case study from Udayapur, Nepal

2015 ◽  
Vol 3 ◽  
pp. 35-42
Author(s):  
Dinesh Chandra Devkota ◽  
Kamal Thapa ◽  
Bhaskar Kharki
Keyword(s):  
Climate Change ◽  
Ecosystem Services ◽  
Economic Analysis ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Well Being ◽  
Benefit Analysis ◽  
High Benefit ◽  
Adaptation Options

Ecosystem services are vital to our well-being as they directly or indirectly support our survival and quality of life. But, the growing impact of climate change diminishes the benefit from ecosystem services. Therefore, identifying possible applicable adaptation options are inevitable to reduce the effect of climate change. The present research is based on a case study of Ksedi River watershed, Ajgada Village in Udaypur district of Nepal. The study demonstrates the comparison between different options to deal with flood and make a sound decision, based on economic rationale for long-term benefits. The present study compares ecosystem based adaptation options with engineering options using cost benefit analysis in order to protect village from flooding. Through stakeholder and expert consultations, ecosystem based adaptation options and economic options that are feasible in the village and catchment to mitigate the floods were listed. Economic analysis of these options and the different combinations were done using cost benefit analysis. Analysis was carried out for each of the different combination of options. Focus on ecosystem based adaptation options provide high benefit to cost return in terms of avoided damages and considering engineering options efficient in flood and erosion control in initial stage in spite of its high cost. The study suggests that reforestation in upland forest areas; plantation along riverbed and management of rangeland should be prioritized. Similarly, preparation of flood model, flood height damage curve and flood vulnerable maps specific to the site will help decision makers to implement site specific adaptation options.

scholarly journals Economic Analysis of an Image-Based Beef Carcass Yield Estimation System in Korea

Animals ◽  
2021 ◽  
Vol 12 (1) ◽  
pp. 7
Author(s):  
Collins Wakholi ◽  
Shona Nabwire ◽  
Juntae Kim ◽  
Jeong Hwan Bae ◽  
Moon Sung Kim ◽  
...  
Keyword(s):  
Economic Analysis ◽  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Labor Cost ◽  
Production Costs ◽  
Cost Ratio ◽  
Benefit Analysis ◽  
Gross Margin ◽  
Estimation System

To minimize production costs, reduce mistakes, and improve consistency, modern-day slaughterhouses have turned to automated technologies for operations such as cutting, deboning, etc. One of the most vital operations in the slaughterhouse is carcass grading, usually performed manually by grading staff, which creates a bottleneck in terms of production speed and consistency. To speed up the carcass grading process, we developed an online system that uses image analysis and statistical tools to estimate up to 23 key yield parameters. A thorough economic analysis is required to aid slaughterhouses in making informed decisions about the risks and benefits of investing in the system. We therefore conducted an economic analysis of the system using a cost-benefit analysis (the methods considered were net present value (NPV), internal rate of return (IRR), and benefit/cost ratio (BCR)) and sensitivity analysis. The benefits considered for analysis include labor cost reduction and gross margin improvement arising from optimizing breeding practices with the use of the data obtained from the system. The cost-benefit analysis of the system resulted in an NPV of approximately 310.9 million Korean Won (KRW), a BCR of 1.72, and an IRR of 22.28%, which means the benefits outweigh the costs in the long term.

scholarly journals Cost-Benefit Analysis of Landscape Restoration: A Stocktake

Land ◽  
2020 ◽  
Vol 9 (11) ◽  
pp. 465
Author(s):  
Priscilla Wainaina ◽  
Peter A. Minang ◽  
Eunice Gituku ◽  
Lalisa Duguma
Keyword(s):  
Economic Analysis ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Global Perspective ◽  
Data Generation ◽  
Benefit Analysis ◽  
Landscape Restoration ◽  
Use Values ◽  
Direct Use

With the increase in demand for landscape restoration and the limited resources available, there is need for economic analysis of landscape restoration to help prioritize investment of the resources. Cost-benefit analysis (CBA) is a commonly applied tool in the economic analysis of landscape restoration, yet its application seems limited and varied. We undertake a review of CBA applications to understand the breadth, depth, and gaps. Of the 2056 studies identified in literature search, only 31 met our predefined criteria. Three studies offered a global perspective, while more than half were conducted in Africa. Only six countries benefit from at least 2 CBA studies, including Brazil, Ethiopia, Kenya, Vietnam, South Africa, and Tanzania. About 60% focus on agroforestry, afforestation, reforestation, and assisted natural regeneration practices. Only 16% covered all cost categories, with opportunity costs being the least covered. Eighty-four percent apply direct use values, while only 16% captured the non-use values. Similarly, lack of reliable data due to predictions and assumptions involved in data generation influenced CBA results. The limited number of eligible studies and the weaknesses identified hereinabove suggest strong need for improvements in both the quantity and quality of CBA to better inform planning, policies, and investments in landscape restoration.

Response: The Use of Economic Analysis in Public Policy

1995 ◽  
Vol 9 (4) ◽  
pp. 324-326 ◽  
Author(s):  
Wim Wiewel
Keyword(s):  
Economic Analysis ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Economic Benefits ◽  
Economic Losses ◽  
Benefit Analysis ◽  
Policy Relevance ◽  
Economic Tools ◽  
The University ◽  
Environment Cost

Morales and colleagues deserve credit for extending traditional economic analysis by using anthropological field data and applying midlevel economic tools to policy analysis. However, their analysis is problematic because it exaggerates how many benefits would be lost if the Maxwell Street Market were moved, ignores the costs imposed by the market, and does not consider the economic benefits of the university's proposed land use. Even very moderate success of the university's plans will more than compensate for the economic losses caused by the market's move. It was politically impossible for the university to implement its expansion plans while maintaining the market. Such difficult choices inevitably arise in a complex urban environment. Cost-benefit analysis is a useful tool, but provides only some of the information that enters into the decision-making process. Thus analysts must be modest in the claims they make for the policy relevance of their data.

Economics, Ethics and Environmental Problems

1986 ◽  
Vol 1 (3) ◽  
pp. 139-153 ◽  
Author(s):  
Peter Söderbaum
Keyword(s):  
Resource Allocation ◽  
Economic Analysis ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Environmental Problems ◽  
Neoclassical Economics ◽  
Benefit Analysis ◽  
Ecological Ethics ◽  
Alternative Approaches ◽  
The Way

The relevance and usefulness of mainstream or neoclassical economics has been questioned more in some fields of inquiry than in others. Against the background of an attempt to characterize environmental problems, the fruitfulness of conventional ideas of economic analysis, as carried out in practice in the form of cost-benefit analysis, is questioned. Alternative approaches judged to be more compatible with environmental problems are indicated. It is argued that cost-benefit analysis represents a closed ethic or ideology and that approaches which open the way for various possible ethical or ideological standpoints are more promising. Different principles of resource allocation or housekeeping should be considered and the idea of only one “scientifically correct” or “true” principle abandoned. Non-monetary principles of housekeeping, such as specific versions of ecological ethics, are not “less economic” than the now dominant monetary principles.

Same-sex marriage: the irrelevance of the economic approach to law

2010 ◽  
Vol 6 (2) ◽  
pp. 139-149
Author(s):  
Mark D. White
Keyword(s):  
Economic Analysis ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Economic Approach ◽  
Economic Analysis Of Law ◽  
Benefit Analysis ◽  
Same Sex ◽  
Same Sex Marriage ◽  
The Core ◽  
Trade Offs

AbstractSeveral noted legal scholars, most prominently Richard Posner, have applied the economic analysis of law to the debate over same-sex marriage. In this note, I argue that the economic approach to law is ill-equipped to deal with the issues of principle, dignity and rights that are at the core of the debate, regardless of the position taken on the issue. Other scholars, such as Darren Bush, acknowledge the shortcomings of the economic approach, such as the importance of the assumptions on which cost-benefit analysis is made, but they do not appreciate that this is symptomatic of the economic approach as a whole, not merely the application of it by some scholars in some cases. My contention is that the economic approach to law is appropriate regarding issues of policy, where trade-offs are essential and necessary, but not regarding issues of principle, with which trade-offs are not so easily made.

scholarly journals Cost Benefit Analysis of Centralized Wastewater Reuse Systems

2012 ◽  
Vol 3 (3) ◽  
pp. 1-30 ◽  
Author(s):  
Xiao Liang ◽  
Meine Pieter van Dijk
Keyword(s):  
Economic Analysis ◽  
Financial Analysis ◽  
Cost Benefit Analysis ◽  
Wastewater Reuse ◽  
Cost Benefit ◽  
Point Of View ◽  
Benefit Analysis ◽  
Positive Effects ◽  
Plant Manager ◽  
Financial Benefits

The present paper carries out a cost benefit analysis of centralized wastewater reuse systems in Beijing. This study consists of two parts: financial analysis and economic analysis. The financial analysis is made from the point of view of plant manager, in which financial benefits and cost is calculated. The economic analysis is made from the point of view of society, in which the economic, environmental and social benefits and cost are determined. The results of financial analysis show that the financial benefits are larger than cost, which means the centralized wastewater reuse systems are financially feasible. It implies that the investment on centralized wastewater reuse systems is profitable. The results of economic analysis show that the ratio of benefit to cost is larger than 1, which means the centralized wastewater reuse systems are economically feasible. It implies that centralized wastewater reuse systems have positive effects on the society. From the point of view of plant manager, centralized wastewater reuse systems could operate in a long term, while from the point of view of government or society, the centralized wastewater reuse systems are worth to be promoted.

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