A new method for evaluating worst- and best-case (WBC) economic consequences of technological development

Hans Schjær-Jacobsen

doi:10.1016/0925-5273(95)00159-X

A new method for evaluating worst- and best-case (WBC) economic consequences of technological development

Hans Schjær-Jacobsen

Research output: Contribution to journal › Conference article › Research › peer-review

Abstract

This paper is addressing the problem of evaluating economic worst- and best-care (WBC) consequences of technological development in industrial companies faking into account uncertainties and lack of exact cost and market information. In the theoretical part of the paper, the mathematical concepts of interval analysis are introduced in order to establish a basis for adequately handling the complexity involved in true WBC analysis. The practical part of the paper demonstrates the applicability of WBC budgeting in a cash-flow case related to a real-life decision situation at the project level in an industrial company.

Original language	English
Journal	International Journal of Production Economics
Volume	46-47
Pages (from-to)	241-250
ISSN	0925-5273
DOIs	https://doi.org/10.1016/0925-5273(95)00159-X
Publication status	Published - 1996
Event	8th International Working Seminar on Production Economics - Innsbruck, Austria Duration: 21 Feb 1994 → 25 Feb 1994 Conference number: 8

Conference

Conference	8th International Working Seminar on Production Economics
Number	8
Country/Territory	Austria
City	Innsbruck
Period	21/02/1994 → 25/02/1994

Keywords

Worst-case
Best-case
Economic consequences
Technological development

Access to Document

10.1016/0925-5273(95)00159-X

OpenUrl availability

Full text

Cite this

@inproceedings{47b9702102094ae5935de54b91cffd61,

title = "A new method for evaluating worst- and best-case (WBC) economic consequences of technological development",

abstract = "This paper is addressing the problem of evaluating economic worst- and best-care (WBC) consequences of technological development in industrial companies faking into account uncertainties and lack of exact cost and market information. In the theoretical part of the paper, the mathematical concepts of interval analysis are introduced in order to establish a basis for adequately handling the complexity involved in true WBC analysis. The practical part of the paper demonstrates the applicability of WBC budgeting in a cash-flow case related to a real-life decision situation at the project level in an industrial company. ",

keywords = "Worst-case, Best-case, Economic consequences, Technological development",

author = "Hans Schj{\ae}r-Jacobsen",

year = "1996",

doi = "10.1016/0925-5273(95)00159-X",

language = "English",

volume = "46-47",

pages = "241--250",

journal = "International Journal of Production Economics",

issn = "0925-5273",

publisher = "Elsevier",

note = "8th International Working Seminar on Production Economics ; Conference date: 21-02-1994 Through 25-02-1994",

}

TY - GEN

T1 - A new method for evaluating worst- and best-case (WBC) economic consequences of technological development

AU - Schjær-Jacobsen, Hans

N1 - Conference code: 8

PY - 1996

Y1 - 1996

N2 - This paper is addressing the problem of evaluating economic worst- and best-care (WBC) consequences of technological development in industrial companies faking into account uncertainties and lack of exact cost and market information. In the theoretical part of the paper, the mathematical concepts of interval analysis are introduced in order to establish a basis for adequately handling the complexity involved in true WBC analysis. The practical part of the paper demonstrates the applicability of WBC budgeting in a cash-flow case related to a real-life decision situation at the project level in an industrial company.

AB - This paper is addressing the problem of evaluating economic worst- and best-care (WBC) consequences of technological development in industrial companies faking into account uncertainties and lack of exact cost and market information. In the theoretical part of the paper, the mathematical concepts of interval analysis are introduced in order to establish a basis for adequately handling the complexity involved in true WBC analysis. The practical part of the paper demonstrates the applicability of WBC budgeting in a cash-flow case related to a real-life decision situation at the project level in an industrial company.

KW - Worst-case

KW - Best-case

KW - Economic consequences

KW - Technological development

U2 - 10.1016/0925-5273(95)00159-X

DO - 10.1016/0925-5273(95)00159-X

M3 - Conference article

SN - 0925-5273

VL - 46-47

SP - 241

EP - 250

JO - International Journal of Production Economics

JF - International Journal of Production Economics

T2 - 8th International Working Seminar on Production Economics

Y2 - 21 February 1994 through 25 February 1994

ER -

A new method for evaluating worst- and best-case (WBC) economic consequences of technological development

Abstract

Conference

Keywords

Access to Document

OpenUrl availability

Fingerprint

Cite this