nep-ppm New Economics Papers
on Project, Program and Portfolio Management
Issue of 2017‒03‒19
five papers chosen by
Arvi Kuura
Tartu Ülikool

  1. Labour as a utility measure reconsidered By Ahlheim, Michael; Frör, Oliver; Nguyen Minh Duc; Rehl, Antonia; Siepmann, Ute; Pham Van Dinh
  2. Accessibility, Transportation Cost and Regional Growth: A Case Study for Egypt By Dina N. Elshahawany; Eduardo A. Haddad; Michael L. Lahr
  3. Civic Crowdfunding: A collective option for local public By Claire Charbit; Guillaume Desmoulins
  4. Turning the paradigm of aid allocation on its head By Olivier Sterck; Max Roser; Stefan Thewissen
  5. Finansowanie innowacyjnych przedsięwzięć przez fundusze podwyższonego ryzyka - determinanty procesu decyzyjnego. By Gawlik, Remigiusz

  1. By: Ahlheim, Michael; Frör, Oliver; Nguyen Minh Duc; Rehl, Antonia; Siepmann, Ute; Pham Van Dinh
    Abstract: In Stated Preference studies for the appraisal of environmental projects in poor countries or regions it often turns out that the stated willingness to pay of people for environmental improvements, which is used as measure of individual welfare changes, is very low. This is often interpreted as the result of extremely tight budget constraints, which make it impossible that people express their true appreciation of an environmental project in terms of their willingness to pay for it. Therefore, it is sometimes suggested to use labour contributions instead of money as a numeraire to measure utility in such studies. In this paper we show theoretically and empirically that this suggestion is not compatible with the principles of welfare theory because of several inconsistencies. We also illustrate the validity of our arguments empirically based on the results of a Contingent Valuation study conducted in a rural area in northern Vietnam.
    Keywords: Contingent Valuation,Cost-benefit Analysis,Developing Countries,Public Expenditures,Vietnam,Willingness to work
    JEL: D61 H43 Q51
    Date: 2017
  2. By: Dina N. Elshahawany (Zagazig University); Eduardo A. Haddad; Michael L. Lahr
    Abstract: The potential ability of transport infrastructure investments to produce transport benefits depends on the travel time reductions and accessibility. In this paper, we use an interregional computable general equilibrium (CGE) model to estimate the economic impacts of transportation cost change due specifically to changes in accessibility induced by new transportation projects. The model is integrated with a stylized geo-coded transportation network model to help quantify the spatial effects of transportation cost change. The analysis is focus on a proposed development corridor in Egypt. A main component of the project is a desert-based expansion of the current highway network. The paper focuses on the likely structural economic impacts that such a large investment in transportation could enable through a series of simulations. It is clear that an integrated spatial CGE model can be useful in estimating the potential economic impacts of transportation projects in Egypt. In this vein, this or similar models should support government decisions on such projects.
    Date: 2016–01–09
  3. By: Claire Charbit; Guillaume Desmoulins
    Abstract: This paper investigates the potential of civic crowdfunding as an innovative and collective option for contributing to the production of local public goods. It is articulated around two pillars. The first section provides a general understanding of crowdfunding practices and focuses principally on its civic component. Civic crowdfunding should be distinguished from other types of crowdfunding since it pursues an objective of general interest and mainly concerns place-based projects instigated by citizens and civil society organisations. The aim of this section is to better understand this field, from the general principles to the specific characteristics of actors and their motivations. The second section goes a step further towards the analysis of this practice with regards to the provision of local public goods. Crowdfunded local public goods usually belong to a specific category of public goods, “urban commons”, which generate significant challenges in terms of production, governance and sustainability. Building on the theory of contracts to better understand the interaction among stakeholders in this process, a new model of co-production relying on civic crowdfunding is proposed. Subnational governments would have a key role to play in enabling this practice and facilitating citizen empowerment through the mobilisation of platforms assets. Civic crowdfunding can provide opportunities for subnational governments in terms of citizens/user information, funding, communication, trust and territorial attractiveness. This paper outlines a series of key questions to guide policy makers in experimenting this practice.
    Keywords: citizen engagement, civic crowdfunding, co-production, local pubic goods
    JEL: G20 H40 R10 R50
    Date: 2017–03–17
  4. By: Olivier Sterck; Max Roser; Stefan Thewissen
    Abstract: How should aid be allocated among countries? Past research efforts to answer this question followed three steps: (1) the definition of an objective function; (2) the characterization of its functional form; and (3) the estimation of its parameters. Each step has been heavily criticized. While thought provoking, all attempts to refine the objective function and its functional form have increased complexity, overburdening the already too fragile parameterization step. We argue that a complete rethinking and reversal of this paradigm is needed. We start by examining what can be estimated with “sufficient” credibility. We then define five key properties or axioms which are justified in terms of fairness, proportionality, and encouragement domestic investments. Finally, we combine these elements into an allocation formula. The framework is applied to the allocation of development assistance for health
    Date: 2017
  5. By: Gawlik, Remigiusz
    Abstract: The paper discusses the determinants of decision-making when financing innovative entrepreneurship through Venture Capital. Its aim is to structure key determinants of such decision-making process in order to aid the assessment of projects for financing. Literature analysis, deductive method and qualitative-quantitative multicriteria analysis have been employed. The author described the sense, financing phases, forms and limitations of VC investments. A set of decision-making determinants relevant for particular financing phases has been proposed.
    Keywords: Venture Capital, decision-making, innovative entrepreneurship
    JEL: D81 G24 O31
    Date: 2016

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