On 'Before' and 'After' Cost Comparisons,
Abstract
Comparisons of a priori cost estimates with a posteriori payments is about as pervasive as it is instinctive. A new result of mathematical optimization and probability theories leads to the unexpected conclusion that such comparisons, even for many idealized engineering designs, appear to be invalid. The paper demonstrates that before and after costs are unit samples from populations with different probability distributions.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 01, 1983
- Accession Number
- ADP002799
Entities
People
- R. M. Stark
Organizations
- University of Delaware