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Cost-Benefit Analysis
Paperback
Series: Elements in Public Economics
Medical ReferenceGeneral Political Science
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ISBN10: 1108462936
ISBN13: 9781108462938
Publisher: Cambridge University Press
Published: May 24 2018
Pages: 102
Weight: 0.32
Height: 0.21 Width: 6.00 Depth: 9.00
Language: English
ISBN13: 9781108462938
Publisher: Cambridge University Press
Published: May 24 2018
Pages: 102
Weight: 0.32
Height: 0.21 Width: 6.00 Depth: 9.00
Language: English
This Element on cost-benefit analysis provides a summary of recent theoretical and empirical developments and summarizes state-of-the-art stated-preference and revealed-preference valuation methods. The Element discusses how to assess small (or marginal) as well as large (or non-marginal) projects that have a significant impact on prices and/or other economic variables. It also discusses distortions like taxes, market power, and sticky prices. In addition, risk/uncertainty is considered. A novel feature is the elaboration on flexible evaluation rules for reasonably small projects. Conventional point-estimates of projects should be used with care, because they typically give biased results.
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