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Africa
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Economics of Risk Management
Published in Charles Yoe, Principles of Risk Analysis, 2019
Economic impact analysis (EIA) studies how the direct benefits and costs of an RMO affect the local, regional, or national economy. The economic impacts of RMOs usually include effects on jobs, incomes, prices, taxes, and possibly measures of economic welfare like consumer and producer surplus or QALYs. Thus, economic impact analysis is intended to measure these types of economic effects associated either with the status quo or with particular RMOs that may be implemented. BCA measures direct benefits and costs of an RMO. It typically does not convert these direct effects into their indirect effects on the economy, such as changes in employment, wages, business sales, or land use. This is the role of EIA.
Repositioning cities through star architecture: how does it work?
Published in Journal of Urban Design, 2018
Nadia Alaily-Mattar, Johannes Dreher, Alain Thierstein
Towards this purpose, this paper borrows concepts and tools from the classic model of economic impact analysis and adapts them to the needs of this research. A basic definition of economic impact analysis is that it is an estimation of the changes in economic activity within a region resulting from some action (MSU, Economic Impacts of Recreation and Tourism 2017). Economic impact analysis is sometimes called impact evaluation or outcome evaluation; it may be ex ante that is assessing the likely impacts of proposed or hypothetical actions, or ex post, measuring economic activity associated with an action (Kellogg Foundation 1998). The concept of evaluability draws attention to the difficulty and sometimes impossibility of evaluating impact (Rossi, Freeman, and Lipsey 1999) owing mostly to the systemic nature of causal relationships and what Weiss (1997, 515) calls the “aggressively rationalistic stance” of evaluation. Evaluation assumes that goals are fixed at the beginning and do not change. This of course is seldom the case; new goals emerge along the way. Hence, it must be stressed here that the purpose of using the tools of impact evaluation in this paper is not to evaluate star architectural projects, but rather to develop a conceptual impact model that can describe the underlying hypotheses of how star architectural projects ‘work’.