CostûBenefit Analysis (Elements in Public Economics)

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.

• | Author: Per-Olov Johansson, Bengt Kristr÷m
• | Publisher: Cambridge University Press
• | Publication Date: May 24, 2018
• | Number of Pages: 100 pages
• | Language: English
• | Binding: Paperback/Political Science
• | ISBN-10: 1108462936
• | ISBN-13: 9781108462938