Open AccessBook
Cost-Benefit Analysis
E.J. Mishan,Euston Quah +1 more
TLDR
Costbenefit analysis (CBA) is the systematic and analytical process of comparing benefits and costs in evaluating the desirability of a project or program as mentioned in this paper, often of a social nature, and is fundamental to government decision making and is established as a formal technique for making informed decisions on the use of society's scarce resources.Abstract:
Cost-benefit analysis (CBA) is the systematic and analytical process of comparing benefits and costs in evaluating the desirability of a project or programme – often of a social nature. It attempts to answer such questions as whether a proposed project is worthwhile, the optimal scale of a proposed project and the relevant constraints. CBA is fundamental to government decision making and is established as a formal technique for making informed decisions on the use of society’s scarce resources.
This timely sixth edition of the classic Cost-Benefit Analysis text continues to build on the successful approach of previous editions, with lucid explanation of key ideas, simple but effective expository short chapters and an appendix on various useful statistical and mathematical concepts and derivatives. The book examines important developments in the discipline, with relevant examples and illustrations as well as new and expanded chapters which build upon standard materials on CBA. Highlights include:
updated historical background of CBA
extended non-market goods valuation methods
the impact of uncertainty
evaluation of programmes and services
behavioural economics
decision rules and heuristics
CBA and regulatory reforms
CBA in developed and developing countries
value of household production
other topics frequently encountered in CBA, such as costs of diseases and air pollution, and value of statistical life.
This book is a valuable source and guide to international funding agencies, governments, interested professional economists and senior undergraduate and graduate students.
The text is fully supported by a companion website, which includes discussion questions and PowerPoint slides for each chapter.read more
Citations
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Journal ArticleDOI
Accrual Equivalent Marginal Tax Rates for Personal Financial Assets
Graham Glenday,Jim Davies +1 more
TL;DR: This paper showed that the appropriate approach to calculating accrual equivalent marginal tax rates for nonaccrual taxes on personal financial investments is the relative reduction in the internal rate of return approach, which equates the present values from the after-tax returns from an investment under an accruality and a non-accruality tax.
Journal ArticleDOI
Do fixed links affect local industry?: a norwegian case study
TL;DR: In this article, the authors considered the way transport infrastructure may affect factors that can initiate cumulative economic growth processes at the regional level, and the theoretical foundation for the study is external effects as the vehicle for cumulative growth.
Journal ArticleDOI
From Economic to Political Analysis of Library Decision Making
TL;DR: In this article, the authors argue that political analysis of university and public libraries should be undertaken in conjunction with economic analyses, and apply a specific theoretical framework and concept to apply the cost benefit analysis to the M.I.T. Libraries.
Book ChapterDOI
The Revealed Preference Approach
TL;DR: In this paper, the authors examine the empirical methods that economists have devised to quantify how much citizens are willing to pay in monetary terms for health effects, and present two principal approaches that can be used to obtain willingness-to-pay estimates of health changes.