Cost-benefit analysis: concepts and practice
Saved in:
| Format: | Book |
|---|---|
| Language: | English |
| Published: |
Upper Saddle River, NJ
Prentice Hall
2001
|
| Edition: | 2. ed. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XVI, 526 S. graph. Darst. |
| ISBN: | 0130871788 |
Staff View
MARC
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Record in the Search Index
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| adam_text | Brief Contents
PART I OVERVIEW 1
Chapter 1 Introduction to Cost Benefit Analysis 1
Chapter 2 Conceptual Foundations of Cost Benefit Analysis 25
PART II FUNDAMENTALS OF CBA 49
Chapter 3 Basic Microeconomic Foundations
of Cost Benefit Analysis 49
Chapter 4 Valuing Benefits and Costs in Primary Markets 67
Chapter 5 Valuing Benefits and Costs in Secondary Markets 103
Chapter 6 Discounting Future Benefits and Costs 120
Chapter 7 Dealing with Uncertainty: Expected Value,
Sensitivity Analysis, and the Value of Information 156
Chapter 8 Option Price and Option Value 192
Chapter 9 Existence Value 213
Chapter 10 The Social Discount Rate 227
PART III VALUATION OF IMPACTS 266
Chapter 11 Valuing Impacts from Observed Behavior:
Demonstrations 266
Chapter 12 Valuing Impacts from Observed Behavior:
Direct Estimation of Demand Curves 305
Chapter 13 Valuing Impacts from Observed Behavior:
Other Revealed Preference Methods 329
Chapter 14 Valuing Impacts through Surveys: Contingent
Valuation 358
Chapter 15 Shadow Prices from Secondary Sources 391
Chapter 16 Shadow Prices: Applications to Developing Countries 417
vii
PART IV RELATED METHODS AND ACCURACY 437
Chapter 17 Cost Effectiveness Analysis and Cost Utility Analysis 437
Chapter 18 Distributionally Weighted Cost Benefit Analysis 456
Chapter 19 How Accurate Is CBA? 473
viii
CONTENTS
Preface xv
PART I OVERVIEW
CHAPTER 1 Introduction to Cost Benefit Analysis 1
Individual versus Social Costs and Benefits 1
The Purpose and Uses of CBA 2
The Demand for CBA 5
The Cost of CBA 6
Readers of This Book 6
The Basic Steps of CBA: Coquihalla Highway Example 7
Bureaucratic and Political Lenses 17
Conclusion 21
CHAPTER 2 Conceptual Foundations of Cost Benefit Analysis 25
CBA as a Framework for Measuring Efficiency 25
Using CBA for Decision Making 29
Fundamental Issues Related to Willingness to Pay 32
Concerns about the Role of CBA in the Political Process 38
Limitations of CBA: Other Analytical Approaches 39
Conclusion 45
PART II FUNDAMENTALS OF CBA
CHAPTER 3 Basic Microeconomic Foundations
of Cost Benefit Analysis 49
Demand Schedules 49
Supply Schedules 53
Social Surplus and Allocative Efficiency 56
Conclusion 59
Appendix 3A Consumer Surplus and Willingness to Pay 59
ix
CHAPTER 4 Valuing Benefits and Costs in Primary Markets 67
Actually Used versus Conceptually Correct Measures
of Benefits and Costs 69
Valuing Outcomes: Willingness to Pay 70
Valuing Inputs: Opportunity Costs 86
Project Effects on Government Revenues 97
Conclusion 98
CHAPTER 5 Valuing Benefits and Costs in Secondary Markets 103
Valuing Benefits and Costs in Efficient Secondary Markets 103
Valuing Benefits and Costs in Distorted Secondary Markets 111
Secondary Market Effects from the Perspective
of Local Communities 114
Conclusion 115
CHAPTER 6 Discounting Future Benefits and Costs 120
Basics of Discounting 121
Compounding and Discounting over Multiple Years 123
Timing of Benefits and Costs 129
Long Lived Projects and Terminal Values 130
Comparing Projects with Different Time Frames 133
Real versus Nominal Dollars 135
Relative Price Changes 140
Sensitivity Analysis in Discounting 141
Conclusion 143
Appendix 6A Shortcut Methods for Calculating the Present Value
of Annuities and Perpetuities 143
Appendix 6B Discounting with Multiple Compounding
in Each Period 148
CHAPTER 7 Dealing with Uncertainty: Expected Value,
Sensitivity Analysis, and the Value of Information 156
Expected Value Analysis 156
Sensitivity Analysis 166
Information and Quasi Option Value 176
Conclusion 184
Appendix 7A Doing Monte Carlo Sensitivity Analysis
with a Simple Spreadsheet 185
CHAPTER 8 Option Price and Option Value 192
Ex Ante Willingness to Pay: Option Price 193
Determining the Bias in Expected Surplus: Signing Option Value 203
Rationales for Expected Surplus as a Practical Benefit Measure 205
X
Conclusion 208
Appendix 8A Signing Option Value 208
CHAPTER 9 Existence Value 213
Active and Passive Use Value 213
The Measurement of Existence Value 217
Conclusion 220
Appendix 9A Expenditure Functions and the Partitioning of Benefits 220
CHAPTER 10 The Social Discount Rate 227
Does the Choice of Discount Rate Matter? 229
The Theory behind the Appropriate Social Discount Rate Method
in Perfect Markets 230
Alternative Social Discount Rate Methods in the Absence
of Perfect Markets 236
The Social Discount Rate in Actual Practice 249
Conclusion 250
Appendix 10A Adjusting the Social Discount Rate for Systematic Risk 251
Appendix 10B Social Discounting Based on the Real Growth Rate 254
Appendix 10C Computing Changes in Investment and Consumption
When the Project Is Financed by Funds Raised
through Issuing Bonds 257
PART HI VALUATION OF IMPACTS
CHAPTER 11 Valuing Impacts from Observed Behavior:
Demonstrations 266
Why Conduct Demonstration Projects? 267
Alternative Evaluation Designs 268
CBAs of Demonstration Projects 272
CBAs of Employment and Training Demonstrations: An Introduction 273
The CBA Framework in the Education and Training Context 274
Conceptual Issues in Conducting CBAs of Education
and Training Demonstrations 276
Choosing Prediction Parameters 287
A Case Study: CBAs of Welfare to Work Demonstrations 289
Sensitivity of the Work /Welfare Findings to Alternative Assumptions 294
Conclusion 300
CHAPTER 12 Valuing Impacts from Observed Behavior:
Direct Estimation of Demand Curves 305
Project Revenues as the Measure of (Gross) Benefits 306
Direct Estimation of the Demand Curve 306
xi
Estimating the Marginal Excess Tax Burden (METB) 320
Conclusion 321
Appendix 12A An Introduction to Multiple Regression Analysis 322
CHAPTER 13 Valuing Impacts from Observed Behavior:
Other Revealed Preference Methods 329
Market Analogy Method 330
Intermediate Good Method 336
Asset Valuation Method 338
Hedonic Price Method 339
Travel Cost Method 344
Defensive Expenditures Method 352
Conclusion 354
CHAPTER 14 Valuing Impacts through Surveys: Contingent Valuation 358
The Role of Contingent Valuation 358
Overview of Contingent Valuation Methods 359
Payment Vehicle 363
General Survey Issues 364
Criticisms of Contingent Valuation 368
Contingent Valuation Problems 368
How Accurate Is Contingent Valuation? 380
Heuristics for the Design and Use of CV Surveys 382
Conclusion 383
CHAPTER 15 Shadow Prices from Secondary Sources 391
The Value of Life 392
The Cost of Injuries 396
The Cost of Crime 399
The Value of Time 401
The Value of Recreational Benefits 402
Existence Value of Species 404
Benefits of Water Quality Improvements 405
The Cost of Noise 407
The Cost of Air Pollution 407
The Cost of Taxation: Marginal Excess Tax Burden 409
Transferring and Adjusting Plug In Values 410
Conclusion 412
CHAPTER 16 Shadow Prices: Applications to Developing Countries 417
The LMST Methodology 418
Illustrations of the LMST Method in Practice 419
xii
Shadow Pricing When Goods Are in Fixed Supply 425
The Shadow Price of Labor 426
Additional Topics 430
Is the LMST Method Actually Used for Project Evaluation? 433
Conclusion 433
PART IV RELATED METHODS AND ACCURACY
CHAPTER 17 Cost Effectiveness Analysis
and Cost Utility Analysis 437
Cost Effectiveness Analysis 438
Cost Utility Analysis 444
Cost Effectiveness Analysis in Pharmacoeconomics 449
The Use of League Tables 452
Conclusion: When Is CEA Close to CBA? 452
CHAPTER 18 Distributionally Weighted Cost Benefit Analysis 456
Distributional Justifications for Income Transfer Programs 457
The Case for Treating Low and High Income
Groups Differently in CBA 458
Distributional Weights 461
Determining Distributional Weights 462
Politically Determined Weights 463
A Pragmatic Approach to Weighting 464
Conclusion 469
CHAPTER 19 How Accurate Is CBA? 473
Sources of Errors in CBA Studies 474
The Distribution of Net Benefits over Time 476
Summary of the CBAs of the Coquihalla Highway 478
Analysis of the Differences among the CBAs 480
Conclusions Arising from the Comparisons 485
A Selected Cost Benefit Analysis Bibliography 489
Name Index 511
Subject Index 517
xiii
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| indexdate | 2024-07-09T18:50:25Z |
| institution | BVB |
| isbn | 0130871788 |
| language | English |
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| spelling | Cost-benefit analysis concepts and practice Anthony E. Boardman ... 2. ed. Upper Saddle River, NJ Prentice Hall 2001 XVI, 526 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Kosten-Nutzen-Analyse / Theorie Kosten-Nutzen-Analyse (DE-588)4032589-1 gnd rswk-swf Kosten-Nutzen-Analyse (DE-588)4032589-1 s DE-604 Boardman, Anthony E. 1948- Sonstige (DE-588)170338487 oth Greenberg, David H. Sonstige (DE-588)170099253 oth Vining, Aidan R. 1945- Sonstige (DE-588)170396177 oth Weimer, David Leo 1950- Sonstige (DE-588)138350396 oth HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009360419&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Cost-benefit analysis concepts and practice Kosten-Nutzen-Analyse / Theorie Kosten-Nutzen-Analyse (DE-588)4032589-1 gnd |
| subject_GND | (DE-588)4032589-1 |
| title | Cost-benefit analysis concepts and practice |
| title_auth | Cost-benefit analysis concepts and practice |
| title_exact_search | Cost-benefit analysis concepts and practice |
| title_full | Cost-benefit analysis concepts and practice Anthony E. Boardman ... |
| title_fullStr | Cost-benefit analysis concepts and practice Anthony E. Boardman ... |
| title_full_unstemmed | Cost-benefit analysis concepts and practice Anthony E. Boardman ... |
| title_short | Cost-benefit analysis |
| title_sort | cost benefit analysis concepts and practice |
| title_sub | concepts and practice |
| topic | Kosten-Nutzen-Analyse / Theorie Kosten-Nutzen-Analyse (DE-588)4032589-1 gnd |
| topic_facet | Kosten-Nutzen-Analyse / Theorie Kosten-Nutzen-Analyse |
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