Method of Constructing Evaluation Criteria of Economic Efficiency of Innovative Projects with Regards to Quality Adjustment

Abstract

A methodology has been developed for constructing criteria for evaluating the economic efficiency of innovative projects, considering the price adjustment for quality with regards to new and existing industries. The proposed performance indicators in real prices were calculated on the basis of real cash flows and the real discount rate, which showed that price unevenness, has a strong influence on project performance, therefore it is necessary to use quality adjustment methods (hedonic price indices) to estimate them more accurately.