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Cost-Benefit Analysis - Richard Layard

Cost-Benefit Analysis

By: Richard Layard (Editor), Stephen Glaister (Editor)

Paperback Published: 29th August 1994
ISBN: 9780521466745
Number Of Pages: 508

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Should India build a new steel mill, or London an urban motorway? Should higher education expand, or water supplies be improved? These are typical questions about which cost-benefit analysis has something to say. It is the main tool that economics provides for analysing problems of social choice. It also provides a useful vehicle for understanding the practical value of welfare economics. This new book of readings covers all the main problems that arise in a typical cost-benefit exercise. It is entirely up-to-date, reflecting the most recent research in the area. Part I covers the main theoretical issues affecting cost-benefit analysis. Part II considers the problem of ascribing a monetary value to things. The third part covers six separate case studies drawn from real-life examples. The book begins with an extended elementary introduction written by the editors.

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'The introduction is an excellent review of the basic principles of cost benefit analysis, and the readings are definitive. An excellent basis for a course.' Geoffrey Heal, Columbia University

Theoretical Issues
Policy reform, shadow prices and market prices
Feasibility constraints: foreign exchange shadow
The rate of discount for cost benefit analysis and the theory of the second best
Uncertainty and the evaluation of public investment decisions
Allowing for income distributions
Project appraisal and planning twenty years on
How to Value Things
Research into the value of time The MVA Consultancy et al
The theory of equalising differences
The economics of safety and physical risk
The environment and emerging development issues
Resource depletion, research and development, and the social rate of discount
Case Studies
Enhancing the performance of the deregulated air transportation system
Pricing and congestion: economic principles relevant to pricing roads
The allocation of urban transport subsidy
Qualys and equity-efficiency tradeoff
Water vending activities in developing countries
Assessing the social rate of return from investment in temperate zone forestry
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521466745
ISBN-10: 0521466741
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 508
Published: 29th August 1994
Country of Publication: GB
Dimensions (cm): 24.33 x 17.07  x 2.74
Weight (kg): 0.79
Edition Number: 2
Edition Type: Revised