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[SHORT ESSAY] What is the rationale for discounting in a benefit-cost analysis? [SHORT ESSAY] What is the difference between the Kaldor-Hicks criterion and the Pareto

[SHORT ESSAY] What is the rationale for discounting in a benefit-cost analysis?

[SHORT ESSAY] What is the difference between the Kaldor-Hicks criterion and the Pareto criterion in BCA?

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