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Cost-benefit Analysis for Public Sector Decision Makers

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A unique presentation of the basics that are needed to understand cost-benefit analysis and put it to immediate use.

Table of Contents

Preface Cost-Benefit Analysis in Practice A History of Application The Decision Maker, Analyst and Cost-Benefit Analysis Policy Advocates and Adversaries: Scrutiny and Accountability How to Do Cost-Benefit Analysis Economics and Cost-Benefit Analysis Economic Valuation of Individual Preferences Who Is Society? "With and Without" Analysis Aggregate Benefits and Costs Present Value of Benefits and Costs Distributed Over Time Decision Criteria Discount Rate Inflation Time Horizon Uncertainty and Risk Principles of Cost-Benefit Analysis Benefits and Costs: Identification and Valuation Identifying Benefits and Costs Market Valuation Contingent Valuation Method Travel Cost Method Hedonic Pricing Method: Property Value Approach Valuation of Human Life Cost-Effectiveness Analysis Principles for Identifying and Valuing Benefits and Costs

About the Author

DIANA FUGUITT is Professor of Economics and a Coordinator of an interdisciplinary Environmental Studies major at Eckerd College, St. Petersburg, Florida./e She has directed numerous economic and environmental studies students in the techniques of cost-benefit analysis, and received the Robert A. Staub Distinguished Teaching Award in 1992. She has also presented and published papers in African agricultural development and habitat valuation.SHANTON J. WILCOX is a Senior Consultant for a top management consulting firm./e He recently completed a warehousing cost-benefit analysis as a logistical consultant for an engineering and architectural firm.

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