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Hydraulic Economy: Economic Evaluation
This lecture covers basic economic concepts related to hydraulic economy, including private and collective goods, cost-benefit evaluation methods, and the opportunity cost of projects. It discusses the application of the cost-benefit method to protection projects, analyzing costs, benefits, and risk reduction. Various comparison methods and valuation techniques are explored, such as the Levelized Cost of Energy. The lecture also presents differential analysis in engineering and provides examples of evaluating alternative projects based on incremental benefits and investments.