KEY BENEFIT: This authoritative, market-leading text is known for its consistent application of a nine-step framework for conducting or interpreting a cost-benefit analysis.
Introduction to Cost-Benefit Analysis; Conceptual Foundations of Cost-Benefit Analysis; Economics Foundations of Cost-Benefit Analysis; Valuing Benefits and Costs in Primary Markets; Valuing Benefits and Costs in Secondary Markets; Discounting Benefits and Costs in Future Time Periods; Dealing with Uncertainty: Expected Values, Sensitivity Analysis, and the Value of Information; Option Price and Option Value; Existence Value; The Social Discount Rate; Predicting and Monetizing Impacts; Valuing Impacts From Observed Behavior: Experiments and Quasi-Experiments; Valuing Impacts from Observed Behavior: Direct Estimation of Demand Curves; Valuing Impacts from Observed Behavior: Indirect Market Methods; Contingent Valuation: Using Surveys to Elicit Information About Costs and Benefits; Shadow Prices from Secondary Sources; Shadow Prices: Applications to Developing Countries; Cost-Effectiveness Analysis; Distributionally Weighted Cost-Benefit Analysis; How Accurate is CBA?
For program analysts and program managers.
This textbook presents the theories and techniques of cost benefit analysis, illustrated with examples of CBA's real-world application. The book begins with an overview of CBA, then discusses the fundamentals of its use, the valuation of impacts, related methods, and accuracy. Throughout, it emphasizes explanation and application rather than mathematics and theory. This edition includes new material on the application of CBA in developing countries, the social discount rate, shadow prices, and the value of information. Annotation c. Book News, Inc., Portland, OR (booknews.com)