Approaches to Project Evaluation

Ranjit K Sau The theoretical literature on cost-benefit analysis has grown in volume as well as in perception. Little and Mirrlees, for instance, have developed a fullI-fledged, novel approach in this respect, on the foundation laid by Jan Tinbergen, Simultaneously, another approach has been taking shape in the contributions of a number of economists among which Sens and Marglin's are perhaps the most outstanding. These are the two distinct, dominant trends of thinking on the question of project evaluation.