The Delphi Method as Applied to Public Investment Decisions

This article considers some recent developments in the area of "opinion technology" and the potential use of these developments in formulating regional development policy. In particular, we explore the potential role of the Delphi Technique for eliciting and refining local "informed opinion" in the determination of regional development plans and policies. Basically, the objective is to incorporate into the regional analysis the "expert" opinion of local citizens in a meaningful manner. It is our contention that the quantitative economic data and the feasibility of development programs can be improved through the use of this source of information. The objective of tapping this source is especially important in light of the "new regionalism" of today in which local participation may often be a prerequisite to financial assistance.