Cost-Benefit Analysis for Public Sector Decision Makers

ISBN-10: 1567202225
ISBN-13: 9781567202229
Edition: 1999
List price: $138.00 Buy it from $5.36
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Description: Fuguitt and Wilcox skillfully guide analysts, public sector managers, and students of decision-making through a full range of the essential steps to perform, interpret, and assess cost-benefit analysis. Their book shows how to grasp the principles  More...

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Book details

List price: $138.00
Copyright year: 1999
Publisher: ABC-CLIO, LLC
Publication date: 10/30/1999
Binding: Hardcover
Pages: 342
Size: 6.50" wide x 9.75" long x 1.25" tall
Weight: 1.628
Language: English

Fuguitt and Wilcox skillfully guide analysts, public sector managers, and students of decision-making through a full range of the essential steps to perform, interpret, and assess cost-benefit analysis. Their book shows how to grasp the principles of cost-benefit analysis and several related economic valuation methods, how to apply them in undertaking an objective analysis, and how to use the analysis as a decision-making tool across a wide range of fields and applications. An extensive knowledge of economic theory, calculus or advanced graphical analysis is not needed to understand the principles or techniques. Accessible to those who understand basic algebra and have a beginner's hold on statistics, the book also provides a bridge to the more advanced literature in economics and to other analyses used to perform sophisticated valuations. A unique, much-needed presentation of all that is required to gain an immediate, useful understanding of the topic. The authors explain basic economic concepts and show how they are relevant to understanding an analytical approach. They enumerate principles and detail such technical components as "with and without" analysis, discounting, decision criteria and uncertainty assessment. The book provides especially extensive coverage of the contingent valuation method along with market valuation, the travel cost and property value methods, human life valuation, and cost-effectiveness analysis. They explain empirical methods used to perform these valuation techniques and cover survey and regression analysis as well. Most importantly, Fuguitt and Wilcox treat the topic within its real-world context--as a decision-making tool to assess a particular policy's efficiency and to provide the decision maker with necessary information. Trade-offs between efficiency and other policy objectives are also addressed, as is the interdisciplinary setting within which cost-benefit analysis is interpreted, enabling readers to understand that policy advocates and adversaries bring their own values and competing interests to bear on any decision-making process.

Preface
Cost-Benefit Analysis in Practice
A History of Application
The Decision Maker
Analyst and Cost-Benefit
Analysis Policy Advocates and Adversaries
Scrutiny and Accountability
How to Do Cost-Benefit Analysis
Economics and Cost-Benefit Analysis
Economic Valuation of Individual Preferences
Who Is Society?
"With and Without"
Analysis Aggregate Benefits and Costs
Present Value of Benefits and Costs
Distributed Over Time Decision Criteria
Discount Rate Inflation Time
Horizon Uncertainty and Risk Principles of Cost-Benefit Analysis
Benefits and Costs
Identification and Valuation
Identifying Benefits and Costs Market Valuation
Contingent Valuation Method
Travel Cost Method
Hedonic Pricing Method
Property Value
Approach Valuation of Human Life Cost-Effectiveness
Analysis Principles for Identifying and Valuing
Benefits and Costs

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