Cost-Benefit Analysis: Theory and Application

By Tevfik F. Nas

Book Overview

Drawing on the principles of welfare economics and public finance, this second edition of Cost-Benefit Analysis: Theory and Application provides the theoretical foundation for a general framework within which costs and benefits are identified and assessed from a societal perspective. With a thorough coverage of cost-benefit concepts and their underlying theory, the volumecarries the reader through the steps of a typical evaluation process, including the identification, measurement, and comparison of costs and benefits, and project selection. Topics include alternative measures of welfare change, such as the concepts of consumer surplus and compensating and equivalent variation measures, shadow pricing, nonmarket valuation techniques of contingent valuation and discrete choice experiment, perspectives on what constitutes a theoretically acceptable discount rate, the social rate of time preference, income distribution, and much more. The book also focuses on real-world applications of cost-benefit analysis in two closely related areas--environment and health care--followed by an examination of the current state of the art in cost-benefit analysis as practiced by international agencies.

• Format: Paperback
• Language: English
• ISBN: 1498522521
• ISBN13: 9781498522526
• Release Date: March 2018
• Publisher: Bloomsbury Publishing USA
• Length: 252 Pages
• Weight: 0.82 lbs.
• Dimensions: 0.6" x 6.0" x 9.0"

Customer Reviews

Cost-benefit analysis on a macro-econical level

I used this book to learn more about cost-benefit decisions in tranportation planning, and albeit the book does not relate specifically to that field, it worked very well. The nice part is that it first discusses some macro-economical concepts before delving into cost-benefit calculations. This is very useful if you, like me, do not have a background, classes, courses or a degree in economics. As an introductory book on an undergraduate level this book is excellent.