Elements in Public Economics : Cost-Benefit Analysis Paperback / softback
This Element on cost-benefit analysis provides a summary of recent theoretical and empirical developments and summarizes state-of-the-art stated-preference and revealed-preference valuation methods.
The Element discusses how to assess small (or marginal) as well as large (or non-marginal) projects that have a significant impact on prices and/or other economic variables.
It also discusses distortions like taxes, market power, and sticky prices.
In addition, risk/uncertainty is considered. A novel feature is the elaboration on flexible evaluation rules for reasonably small projects.
Conventional point-estimates of projects should be used with care, because they typically give biased results.
- Format: Paperback / softback
- Pages: 100 pages, Worked examples or Exercises; 7 Line drawings, black and white
- Publisher: Cambridge University Press
- Publication Date: 31/05/2018
- Category: Microeconomics
- ISBN: 9781108462938