Multi-Criteria Analysis
It is impossible to try to reduce all values in society to a monetary value. In some cases, where there is no market to reveal a monetary value, available techniques of valuation, such as stated and revealed preference methods (contingent valuation, travel cost method, choice modelling, etc.), are expensive to implement and often provide unreliable value estimates.
An alternative approach to that of monetary valuation of all benefits and costs is the method of multi-criteria analysis. Multi-criteria analysis (MCA) is a structured framework for investigating, analysing and resolving decision problems constrained by multiple objectives and criteria (Nijkamp et al.1990, Voogd 1983). It is seen by many as an alternative to CBA primarily because it does not require all impacts to be expressed in monetary units.
In its most basic form, a multi-criteria analysis (MCA) model is comprised of a set of evaluative criteria, a set of weights indicating the importance of those criteria, a set of alternatives (scenarios or alternative projects), and a set of performance measures indicating the performance of each alternative against each criterion. This method of analysis is aimed at supporting decision makers when faced with making numerous and conflicting evaluations.
View Project Evaluation work undertaken by EconSearch.
Latest News
Adelaide Hills Investment Conference
25 February 2010: Julian Morison presented a paper to the highly successful Adelaide Hills Investment Conference held in Mount Barker and hosted by Regional Development Australia. His presentation on Regional Economics for the Investment Business Case can be downloaded here.
Release of the Northern Australia Land and Water Taskforce Report
8 February 2010: The Northern Australia Land and Water Taskforce (NALWT) has released their final report on the sustainable development of northern Australia. EconSearch contributed to three chapters (9, 10 and 11) of the Northern Australia Land and Water Science Review 2009, a report commissioned by the Taskforce and coordinated by CSIRO in collaboration with over 80 of Australia’s leading scientists. To access the Science Review and NALWT website click here.
Release of Preliminary Economic Indicator Reports
21 December 2009: Preliminary Economic Indicator reports for the commercial fisheries of South Australia have been released for 2008/09. Click here to download the reports.
State of SA Book Launch
4 November 2009: Julian Morison and Lisa Rippin attended a launch for the book titled State of South Australia: From Crisis to Prosperity? held at the Art Gallery of SA and launched by the Premier, The Hon Mike Rann MP. Julian and Lisa together with Matthew Ferris authored one of the book’s chapters, 'South Australian Regions'.