Economic Benefits from Oceanographic Research (1964) / Chapter Skim
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Pages 47-53
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From page 47... ...
Appendix CALCULATION OF THE DISCOUNTED VALUE OF ECONOMIC BENEFITS FROM RESEARCH In trying to obtain some notion of the possible economic benefits from research, we have assumed that the annual production or the annual savings resulting from research in a particular area will follow a growth curve of the form Vit research = bB [ (1 + a)
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From page 48... ...
If the research expenditures during any year, t, are cat, then the net discounted benefits from the research are t=t Whit research = ~ ~ bB t( + T)
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From page 49... ...
In addition to research expenditures, capital investment and institutional changes will usually be required if the anticipated benefits are to be realized. Since the capital investment will be amortized over some depreciation period, it must be discounted differently than the research expenditures.
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From page 50... ...
Writ research = bet ~( 1 + T )
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