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The paper aims to present an approach to cost-benefit analysis with stochastic data. Determining the type and the values of alternative’s factors are probably the most important issue in this approach. Therefore, in the proposed approach, a competitive advantage model was built to measure the values of alternative’s factors. Then, a satisfactory cost-benefit analysis model with random data was proposed to evaluate the alternatives. The cost-benefit analysis of each alternative was carried out to obtain the real and satisfactory cost-benefit of the decision-maker.

This paper is orientationally expressed as a mathematical problem in which the optimization problem needs to analyze the approach. This paper is written based on uncertainty linear optimization. Optimization under uncertainty refers to this branch of optimization where there are uncertainties involved in the data or the model and is popularly known as stochastic optimization problems.

As was seen in the purpose part, in this paper, an approach is presented to cost-benefit analysis by the use of competitive advantage with stochastic data. In this regards, a stochastic optimization problem to assess competitive advantage is proposed. This optimization problem recognizes the values of alternative’s factors which is the most important step in cost-benefit analysis. An optimization problem is proposed to cost benefit analysis, as well.

To investigate different aspects of the proposed approach, a case study with random data of 21 economic projects was considered.

Cost–benefit analysis is a systematic approach to estimating the strengths and weaknesses of alternatives used to determine options which provide the best approach to achieving benefits while preserving savings. Cost–benefit analysis is related to cost-effectiveness analysis. Benefits and costs are expressed in monetary terms and are adjusted for the time value of money; all flows of benefits and costs over time are expressed on a common basis in terms of their net present value, regardless of whether they are incurred at different times. As seen the paper using competitive advantage tries to determine the values of alternative’s factor. As competitive advantage model analyze the advantages and disadvantages of alternatives, this paper by the use of this idea tries to determine the costs and benefits. Two stochastic optimization problems in the middle of this approach are proposed, which assess competitive advantage and cost–benefit analysis, respectively.

Auditing researchers have recommended that the use of audit decision models should be subject to cost‐benefit analysis. This paper provides insight into cost‐benefit analysis and its shortcomings as a tool for evaluating audit decision models. The paper also identifies and discusses the limitations of other evaluation methods. Finally, the paper suggests the use of model confidence as an alternative to model value and model validity.

Recent earthquake-induced liquefaction events and associated losses have increased researchers’ interest into liquefaction risk reduction interventions. To the best of the authors’ knowledge, there was no scholarly literature related to an economic appraisal of these risk reduction interventions. The purpose of this paper is to investigate the issues in applying cost–benefit analysis (CBA) principles to the evaluation of technical mitigations to reduce earthquake-induced liquefaction risk.

CBA has been substantially used for risk mitigation option appraisal for a number of hazard threats. Previous literature in the form of systematic reviews, individual research and case studies, together with liquefaction risk and loss modelling literature, was used to develop a theoretical model of CBA for earthquake-induced liquefaction mitigation interventions. The model was tested using a scenario in a two-day workshop.

Because liquefaction risk reduction techniques are relatively new, there is limited damage modelling and cost data available for use within CBAs. As such end users need to make significant assumptions when linking the results of technical investigations of damage to built-asset performance and probabilistic loss modelling resulting in many potential interventions being not cost-effective for low-impact disasters. This study questions whether a probabilistic approach should really be applied to localised rapid onset events like liquefaction, arguing that a deterministic approach for localised knowledge and context would be a better base for the cost-effectiveness mitigation interventions.

This paper makes an original contribution to literature through a critical review of CBA approaches applied to disaster mitigation interventions. Further, this paper identifies challenges and limitations of applying probabilistic based CBA models to localised rapid onset disaster events where human losses are minimal and historic data is sparse; challenging researchers to develop new deterministic based approaches that use localised knowledge and context to evaluate the cost-effectiveness of mitigation interventions.

Empirically examines how certain variables influence the extent of external information search for banking services. The effects of perceived benefit, perceived cost, perceived risk, and perceived knowledge are tested within a proposed structural equation, cost‐benefit based Banking Services Model (BSM). Surveys a sample of 661 students at a major US university to gather data on their information search for banking services. The results reveal that the BSM provides a good fit to the data. Perceived benefit, cost and knowledge influence the extent of prepurchase bank information search. In addition, the consumers felt that it was more beneficial to obtain more information when there was a perceived benefit of lowering risk and when they already had some form of prior product knowledge. Implications of the BSM for services marketing management and consumer theory, limitations of the study, and future research are discussed.

The purpose of this paper is to apply rapid prototyping (RP) philosophy as a technology transfer in industries to take its time and cost‐effective advantages for development of rapid tooling (RT).

Experimentations are performed for development of RT for sand casting, investment casting and plastic moulding applications.

This paper reports the procedures developed for manufacture of production tooling using RP. A cost/benefit model is developed to justify implementation of RP as a technology transfer in industries.

The examples are limited to parts build by fused deposition modelling RP process. However, the concepts experimented may be applied for other RP processes.

RP has proved to be a cost‐effective and time‐efficient approach for development of RT, thereby ensuring possibility for technology transfer in casting as well as plastic industries.

This is the pioneer attempt towards quantifying RP benefits, in view of technology transfer. This paper presents original case studies and findings on the basis of experimentations performed in foundries.

The purpose of this paper is to examine the feasibility of adopting a market‐based land use model, Transfer of Development Rights (TDR), which is very popular in America and other countries as a positive land use control mechanism for conservation, in an evolving socialist land economy, namely China.

This paper utilizes a case study approach, supplemented by a cost‐benefit model, to estimate the feasibility of establishing a TDR model in Chongqing, China.

From the analysis, it is found that a market‐based land use mechanism can serve to maximize the benefits of all parties and can balance the interests between development pressures and conservation needs. However, this is based on a number of conditions, including: that a well‐developed legal framework should be set up, to clearly delineate property rights; that a good and enforceable planning system should be in place; and that a mature land market mechanism should be developed that allows open market prices to be realized in the trading of development rights.

This case study is based on a hypothetical situation of one case. More data are needed to support the argument in the future.

Conservation is a major concern for the local governments in China, given the recent high speed economic growth. A model that can balance development pressure, while allowing the market to compensate fully for the infringement of property rights in the process of urban regeneration, is worthy of the authority's attention in future policy formulation.

This paper shows that the society as a whole can strike a balance between the need for economic development and conservation of historic sites, provided some conditions can be met.

This paper fulfills an identified need to study the establishment of a market‐based land use model in the conservation policy of land in China.

The article describes a new approach to the cost/benefit aspect of management control systems which will help managers decide which control system is worthwhile improving and how. The new concept is based on two ideas: defining the purpose of a control system as: “Triggering corrective action that will prevent losses which came out of deviation from planned path”; and breaking up the control cycle into five steps and relating separately to each step for improving the present system and its cost/benefit performance.

The objective of the pilot study reported on here was to identify some of the more elusive “costs and benefits” of work‐based learning (WBL) placements. This was addressed by exploring the views and experience of a small number of human resource development (HRD) professionals who currently offer supervised work‐based learning placements to full‐time post‐graduate HRD students.

The small qualitative study outlined was a pilot, focused initially on the perceptions of one set of stakeholders within the placement process, the HRD professionals. By means of questionnaires and interviews the participants were invited to reflect on their interpretation of the tangible and intangible costs and benefits to the organisation, the supervisor/mentor, the student and the university.

The findings imply that there are a number of non‐financial costs and benefits that may not be widely recognised but which may have significance when seeking/agreeing placement opportunities.

This is a small‐scale study, and may have limited transferability.

In due course the study will be extended to examine the perspectives of other stakeholders.

Evidence from the literature suggests that obtaining and sustaining good quality WBL placements can be difficult. A reflection on potential “non standard” costs and benefits may assist organisations to weigh up these more ephemeral but potentially important factors and aid decision‐making about the viability and desirability of offering WBL placements and at the same time develop awareness of non‐standard costs and benefits amongst those seeking to set up placements for their students.