COST-BENEFIT ANALYSIS: A SURVEY

THE FIELD OF COST-BENEFIT ANALYSIS IS SURVEYED FROM THE ECONOMISTS POINT OF VIEW. TWO CLEAR LIMITATIONS OF PRINCIPLE ARE STATED. THE SURVEY IS FURTHER LIMITED TO OPEN LITERATURE AND INCLUDES NO DISCUSSION OF PROGRAMMING, SIMULATION, GAME THEORY, ETC. SECTION II REVIEWS GENERAL PRINCIPLES OF COST- EFFECTIVENESS METHODOLOGY. AMONG THE POINTS DISCUSSED ARE THE CHOICE OF INTEREST RATE, EXTERNALITIES, THE VALUATION OF COSTS AND BENEFITS, AND CONSTRAINTS. PARTICULAR APPLICATIONS OF COST-BENEFIT ANALYSIS ARE DISCUSSED. THE MAJOR FIELDS OF APPLICATION COVERED ARE WATER PROJECTS, TRANSPORT PROJECTS, LAND USAGE, HEALTH, AND EDUCATION. IT IS CONCLUDED THAT THE BENEFIT SIDE POSES MANY MORE PROBLEMS THAN THE COST SIDE AND THAT THE TECHNIQUE IS MORE USEFUL IN THE PUBLIC UTILITY AREA THAN IN THE SOCIAL-SERVICES AREA OF GOVERNMENT. A BIBLIOGRAPHY OF NINETY ENTRIES IS PROVIDED. /BPR/

  • Supplemental Notes:
    • St. Martins PRESS, N.Y. PP 155-207
  • Corporate Authors:

    Surveys of Economic Theory, Vol Iii Reso

    /Allocation
    ,   USA 
  • Authors:
    • Prest, A R
    • Turvey, R
  • Publication Date: 0

Subject/Index Terms

Filing Info

  • Accession Number: 00201347
  • Record Type: Publication
  • Source Agency: Bureau of Public Roads /US
  • Files: TRIS
  • Created Date: Jul 28 2004 6:25PM