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Cost-Benefit Analysis: Theory and Application Second Edition [Minkštas viršelis]

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  • Formatas: Paperback / softback, 252 pages, aukštis x plotis x storis: 230x152x19 mm, weight: 386 g, 50 BW Illustrations, 13 Tables
  • Išleidimo metai: 23-Mar-2018
  • Leidėjas: Lexington Books
  • ISBN-10: 1498522521
  • ISBN-13: 9781498522526
Kitos knygos pagal šią temą:
Cost-Benefit Analysis: Theory and Application Second EditionDidesnis paveikslėlis
  • Formatas: Paperback / softback, 252 pages, aukštis x plotis x storis: 230x152x19 mm, weight: 386 g, 50 BW Illustrations, 13 Tables
  • Išleidimo metai: 23-Mar-2018
  • Leidėjas: Lexington Books
  • ISBN-10: 1498522521
  • ISBN-13: 9781498522526
Kitos knygos pagal šią temą:
Pastovi nuoroda: https://www.kriso.lt/db/9781498522526.html
Raktažodžiai:
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 volume carries 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 areasenvironment and health carefollowed by an examination of the current state of the art in cost-benefit analysis as practiced by international agencies.

Recenzijos

Nas has been able to accomplish a difficult task providing an understandable welfare economics foundation for those new to the subject and enough detail to make sure that these individuals are able to apply CBA to complex allocation problems such as climate change policy. All policy makers should read the book to better understand the power of CBA to address efficiency in exchange, production and allocation. -- Wade Martin, California State University, Long Beach Benefit-Cost analysis is one of the most powerful economic tools for improving efficiency in government spending, but it is too little known and understood by both citizens and government decision-makers. In this second edition of his important book, Tevfik Nas provides a highly readable overview of the theory and method of selecting public investments that provide the largest return for taxpayers and the general population. The applications are particularly useful as illustrations of the potential of the benefit-cost approach. -- Henry Levin, Director, National Center for the Study of Privatization in Education, Teachers College, Columbia University

List of Figures and Tables
xiii
Preface xvii
Acknowledgments xix
1 Introduction
1(14)
Theoretical Foundations and the Rationale for CBA
3(2)
The Application of CBA: A Brief History
5(3)
CBA in Theory and Application: A Preview
8(3)
Summary
11(1)
Discussion Questions
12(3)
2 Efficiency Norm: Pareto Optimality
15(14)
Exchange Efficiency
16(3)
Production Efficiency
19(4)
The Production Possibilities Curve
21(2)
Allocative Efficiency
23(2)
The Grand Utility Frontier
23(2)
Pareto Optimality and Social Welfare Function
25(2)
Summary
27(1)
Discussion Questions
27(2)
3 Economic Efficiency and the Market Mechanism
29(10)
Market-Determined Allocation and Economic Efficiency
29(3)
Market Failure and Economic Efficiency
32(1)
Economic Efficiency in the Presence of Imperfect Competition
33(2)
Natural Monopoly
34(1)
Summary
35(1)
Discussion Questions
36(3)
4 Economic Efficiency and Public Goods
39(8)
Economic Efficiency in the Presence of Public Goods
39(5)
Economic Efficiency Conditions for Pure Public Goods
40(4)
Summary
44(1)
Discussion Questions
45(2)
5 Economic Efficiency in the Presence of Externalities
47(10)
External Costs and Benefits
47(2)
Internalizing External Effects
49(5)
Internalization through Negotiation
50(2)
Internalization through Government Intervention
52(2)
Summary
54(1)
Discussion Questions
54(3)
6 Collective Decision Making
57(8)
Collective Decision-Making Rules
57(5)
Absolute Unanimity Rule
58(1)
Simple Majority Rule
58(4)
Summary
62(1)
Discussion Questions
63(2)
7 Principles of Cost-Benefit Analysis
65(10)
A Typical Cost-Benefit Design
66(2)
Stages of Cost-Benefit Analysis
68(3)
Identification of Costs and Benefits
68(1)
Valuing Costs and Benefits
69(1)
Comparing Costs and Benefits
70(1)
Project Selection
71(1)
Cost-Effectiveness Analysis
71(1)
Summary
72(1)
Discussion Questions
72(3)
8 Allocational Effects of Public Projects
75(20)
Consumer Surplus and Measures of Welfare Change
75(10)
Substitution and Income Effects
76(3)
Compensated Demand Curves
79(3)
Consumer Surplus, EV, and CV Measures
82(1)
Examples
82(3)
Producer Surplus
85(1)
Benefits and Costs of a Project
86(6)
External Effects
88(3)
Inside versus Outside Effects
91(1)
Summary
92(1)
Discussion Questions
93(2)
9 Measuring Costs and Benefits
95(12)
The Analytics of the First- and Second-Best Environment
96(5)
Measurement in a First-Best World
97(2)
Measurement in a Second-Best World
99(2)
Values of Factors of Production
101(4)
The Cost of Labor
102(2)
The Cost of Capital
104(1)
The Value of Land
105(1)
Summary
105(1)
Discussion Questions
106(1)
10 Nonmarket Valuation
107(12)
Stated Preference Methods
108(2)
The Contingent Valuation Method
109(1)
The Discrete Choice Experiment Method
110(1)
Revealed Preference Methods
110(1)
Value of Life
111(4)
Value of Statistical Life
113(2)
Value of Time
115(1)
Summary
116(1)
Discussion Questions
116(3)
11 Investment Criteria and Project Selection
119(12)
Discounting Net Benefits
119(3)
Choice of a Decision Rule
122(5)
Net Present Value
122(1)
Benefit-Cost Ratios
123(1)
Internal Rate of Return
124(2)
The Appropriate Decision Rule
126(1)
Risk and Uncertainty
127(1)
Summary
128(1)
Discussion Questions
129(2)
12 The Choice of Discount Rate
131(16)
Discounting in a First- and Second-Best Environment
131(10)
Rate of Return in a First-Best Environment
132(2)
Rate of Return in a Second-Best Environment
134(1)
Weighted Average Discount Rate Approach
135(2)
Shadow Price of Capital Approach
137(1)
Social Rate of Time Preference
138(3)
Discounting in Practice
141(1)
Summary
142(2)
Discussion Questions
144(3)
13 Income Distribution as an Evaluation Criterion
147(12)
Economic Efficiency, Equity, and Project Evaluation
148(3)
Income Redistribution and Project Evaluation
150(1)
Distributional Weights
151(6)
Derivation of Distributional Weights
152(1)
Weisbrod's Distributional Weights
153(1)
The World Bank Model
153(4)
Summary
157(1)
Discussion Questions
157(2)
14 Applications of Cost-Benefit Analysis
159(10)
CBA Design in Real-World Applications
159(5)
Steps of a Typical CBA
161(3)
Guidelines for Preparing Economic Analyses
164(2)
Summary
166(1)
Discussion Questions
167(2)
15 Evaluation Issues in Environmental Studies
169(20)
Costs and Benefits of Pollution Abatement
170(6)
Methods of Benefit Assessment
171(4)
Cost Assessment
175(1)
Cost-Benefit Analysis of Environmental Projects
176(9)
Regulatory Impact Analysis of the Proposed Revisions to the National Ambient Air Quality Standards for Ground-Level Ozone
177(2)
Costs and Benefits of the Proposed Great Lakes Water Quality Guidance: The Lower Fox River and Green Bay Case Study
179(3)
Nonuse Values
182(1)
Case Study: A Contingent Valuation Study for the Monongahela River
183(2)
Summary
185(1)
Discussion Questions
185(4)
16 Evaluation Studies: Health Care
189(14)
Evaluation Issues in Health Care
190(9)
CBA, CEA, and CUA in Health Care
192(3)
Discounting in Health Care
195(1)
Evaluation of HV Testing: Two Case Studies
196(3)
Summary
199(1)
Discussion Questions
200(3)
17 CBA in a Developing Country Context
203(12)
The Underlying Theory
203(2)
The UNIDO Guidelines and the World Bank Model
205(4)
The UNIDO Guidelines
205(1)
The World Bank Model
206(2)
Social Evaluation
208(1)
The Real-World Applications of the World Price Methodology
209(2)
Summary
211(1)
Discussion Questions
212(3)
References 215(10)
Index 225(6)
About the Author 231
Tevfik F. Nas is professor of economics at the University of Michigan-Flint.