criteriaeconomic

Criteriaeconomic refers to a framework or approach for evaluating economic decisions, policies, or programs based on explicit criteria. The term blends the notions of evaluative criteria with economic analysis. It is not a single standardized methodology but rather a family of methods that apply multiple criteria to assess trade-offs beyond traditional cost-benefit analysis.

Core criteria often include efficiency (resource use), equity (distributional impacts), sustainability (long-term viability), resilience (ability to withstand shocks), and adaptability (flexibility to changing conditions). Additional criteria may cover innovation, risk, scalability, transparency, and governance quality.

Methodologies commonly associated with criteriaeconomic include multi-criteria decision analysis (MCDA), multi-criteria optimization, and participatory appraisal, where stakeholders help determine weighting and acceptability of outcomes. Data requirements are typically broader than conventional economic analysis and may incorporate social, environmental, and institutional indicators.

Applications span public policy, infrastructure investment, corporate strategy, and development programs. For example, a criteriaeconomic assessment might compare several policy options by scoring them against the predefined criteria and aggregating scores with weights to identify preferred alternatives.

Criticism centers on subjectivity in criterion selection and weighting, potential biases, and the challenge of quantifying qualitative outcomes. Proponents argue that it provides a more holistic view of value than purely monetary measures.

See also: cost-benefit analysis, multicriteria decision analysis, policy evaluation, impact assessment.