See comment above about definition of value factor. But it is rarely appropriate to lump change in capital and change in welfare into one ‘factor’. Perhaps SCC is the only time when it does make sense to do so.
So this criteria needs to be more about whether the valuation coefficient is appropriate for the context, given knowledge about the changes in capital of interest.
See comment above about definition of value factor. But it is rarely appropriate to lump change in capital and change in welfare into one ‘factor’. Perhaps SCC is the only time when it does make sense to do so.
So this criteria needs to be more about whether the valuation coefficient is appropriate for the context, given knowledge about the changes in capital of interest.