ABSTRACT
1 The final stage of a typical cost-benefit study requires that we evaluate a stream of net benefits B 1 − K 1 , B 2 − K 2 , … , B n − K n https://s3-euw1-ap-pe-df-pch-content-public-p.s3.eu-west-1.amazonaws.com/9781351029780/90fa3a47-eea2-4a9f-986c-eaffa6b3abad/content/unmath37_1.tif"/> in which the Bs or benefits and the Ks or costs are uncertain and, indeed, increase in uncertainty the further they are from the present.
