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The Role of Alternative Cost in Project Design and Selection

Quarterly Journal of Economics 1965 79(3), 417
Introduction, 417. — I. The basic model, 418. — II. Choices only among explicit alternatives — government choice pre-emptive, 421. — III. Choices only among explicit alternatives — government choice determinative, 425. — IV. Addition of implicit alternatives, 427. — V. Summary and conclusions, 429.