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Cost–Benefit Analysis

Cost Benefit AnalysisConcepts and PracticeFifth editionCost Benefit Analysis provides accessible, comprehensive, authoritative, and practical treatments of the protocols for assessing the relative efficiency of public policies. Its review of essential concepts from microeconomics and its sophisticated treatment of important topics with minimal use of mathematics helps students from a variety of backgrounds to build solid conceptual foundations. It provides thorough treatments of time discounting; dealing with contingent uncertainty using expected surpluses and option prices; taking account of parameter uncertainties using Monte Carlo simulation and other types of sensitivity analyses; revealed preference approaches; stated preference methods including contingent valuation; and other related to cover contemporary research, this edition is considerably reorganized to aid in student and practitioner understanding, and includes eight new cases to demonstrate the actual practice of cost benefit Analysis .

List of Cases ix 1. Introduction to Cost–Benefit Analysis 1 2. Conceptual Foundations of Cost–Benefit Analysis 28 3. Microeconomic Foundations of Cost–Benefit Analysis 55 Appendix 3A. Consumer Surplus and Willingness to Pay 75 4. Valuing Impacts from Observed Behavior: Direct Estimation of Demand Schedules 87 Appendix 4A.

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