By Anthony Boardman
A realistic advent to cost-benefit research via challenge fixing.
This authoritative, market-leading textual content is understood for its constant software of a nine-step framework for undertaking or reading a cost-benefit research.
This version encompasses a variety of chapters which have been revised and reorganized to make the fabric clearer and extra accessible.
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Additional info for Cost-Benefit Analysis (4th Edition)
Most importantly, spenders have a natural tendency to regard expenditures on constituents as benefits rather than as costs. For example, they typically see expenditures on labor as a benefit rather than a cost. Spenders regard themselves as builders or professional deliverers of government-mandated services. As spenders focus on providing projects or services to particular groups in society, we characterize them as engaging in constituency-support analysis. Table 1-5 summarizes how spenders in the provincial highway department view the no-tolls and with-tolls alternatives.
See Barry R. Weingast, Kenneth A. Shepsle, and Christopher Johnsen, “The Political Economy of Benefits and Costs: A Neoclassical Approach to Distributive Politics,” Journal of Political Economy 89(4) 1981, 642–664, at 648. R. K. Davis, “Lessons in Politics and Economics from the Snail Darter,” in Environmental Resources and Applied Welfare Economics: Essays in Honor of John V. Krutilla, Vernon K. Smith, ed. : Resources for the Future, 1988), 211–236. Robert D. Behn, “Policy Analysis and Policy Politics,” Policy Analysis 7(2) 1981, 199–226, at 213, n.
An understanding of the conceptual foundations of CBA provides a basis for determining when CBA can be appropriately used as a decision rule, when it can usefully be part of a broader analysis, and when it should be avoided. The goal of allocative, or Pareto, efficiency provides the conceptual basis for CBA. In this chapter we provide a nontechnical introduction to Pareto efficiency. We then explain its relationship to potential Pareto efficiency, which provides the practical basis for actually doing CBA.