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
Social time preference revisited
TL;DR: In this paper, the implications of the choice of pure social time preference for intergenerational equity in the presence of a time-consistent utilitarian social welfare criterion are considered, and the analysis identifies upper and lower bounds for the feasible range of social discount rates and draws a corresponding distinction between "gerontocratic" and "Stalinist" optimal plans.
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Institutional Review of Medical Research: Cost-Benefit Analysis, Risk-Benefit Analysis, and the Possible Effects of Research on Public Policy
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A dual approach to policy analysis in multiple-use forest management planning
TL;DR: Un systeme de planification pour l'amenagement forestier polyvalent permet aux autorites d'appliquer un niveau optimal and efficace d'incitatifs fiscaux (prix) ou de taxation ainsi qu'un niveur de compensation justifie au plan ethique tout en offrant une allocation optimale des ressources pour differents usages dans des perspectives economiques, politiques
Balancing Apples and Oranges: Methodologies for Facility Siting Decisions
TL;DR: In this paper, three sets of methodologies for evaluating the desirability of sets of impacts generated by large facilities are compared, and the theoretical assumptions implicit in each are discussed.
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Selecting Road-Noise Abatement Measures: Economic Analysis of Different Policy Objectives
TL;DR: In this paper, a mixed noise abatement policy employing low-noise asphalts in addition to facade insulation is considered, where facade insulation was the least expensive noise control alternative per dwelling.