Uncertainty and the Evaluation of Public Investment Decisions

By Kenneth J. Arrow, R. Lind. 2014

435 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/c5578b00c2ce57ce6b48e6cfa2953fd32d9f3540

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Citations in the corpus

Financial Development in Latin America and the Caribbean : The Road Ahead [El desarrollo financiero en América Latina y el Caribe : el camino por delante] (2011, background): “In principle, the Arrow and Lind (1970) argument continues to apply: no matter how lumpy the risk, it can still be distributed atomistically, provided there are enough retailers over which the risk can be spread.”
Social discount rates for the European Union: an overview (2006, background): “An early skirmish on the implications of the EMH for publicly financed activities was a critique, by EMH proponents Bailey and Jensen (1972), of arguments made by Arrow (1965, 1966) that the public sector may be better able than the private sector to spread some risks.”
Public Private Partnerships: The Worldwide Revolution in Infrastructure Provision and Project Finance (2004, background): “For a long time it was argued that the cost of capital of publicly funded projects is below that of private, not due to lower borrowing costs but because, through the tax base, the government can achieve better risk-sharing and pooling than is possible in the private sector (Arrow and Lind, 1970).”
Radical or incremental: Where does R&D policy hit?* (2016, neutral): “Since the assumption is that firms are often riskaverse and financially constrained, this could lead to a sub-optimal allocation of radical vs. incremental innovation (Arrow & Lind, 1970).”
Uncertainty and Climate Change (2002, positive): “It also means that we cannot argue, as for many risks (following Arrow and Lind (1970)), that at the social level risks can be neglected as they affect individuals and are independent and so in the aggregate cancel out.”
Beyond market failures: the market creating and shaping roles of state investment banks (2016, positive): “Therefore, MFT assumes that SIBs are “risk-neutral” and capable of absorbing risk during an economic crisis, spreading risk over time and cross-sectionally (Arrow and Lind 1970; Gutierrez et al. 2011).”
The Basic Public Finance of Public-Private Partnerships (2013, neutral): “See Arrow and Lind (1970).”