The Choice of a Welfare Measure under Uncertainty
指出在不确定性下进行成本效益分析时，期权价格和支付意愿作为福利度量的适用条件，并提出更一般的“最大同意支付”度量，适用于任何项目。
Abstract Use of option price as a welfare measure when conducting a benefit‐cost analysis under uncertainty is appropriate only if the project under consideration will have no impact on the allocation of risk among individuals. Use of the willingness‐to‐pay locus as a benefit measure is appropriate only if the project will result in an efficient allocation of risk. A more general welfare measure is proposed, maximum agreeable payment, that correctly measures the benefits and costs of any project.