Cost-Benefit Analysis (Paperback, 6 ed)

PART IScope and method1 Brief historical background to Cost-Benefit Analysis2 What is Cost-Benefit Analysis?3 Framework to Cost-Benefit Analysis PART IIBasic concepts of benefits and costs 4 Measurements of consumer surplus5 Consumer surplus when several prices change6 Consumer surplus when other things change7 Introduction to the compensating variation8 Measurements of rent9 Is producer surplus a rent? PART IIIShadow prices and transfer payments10 Introductory remarks11 Opportunity cost of labour12 Opportunity cost of unemployed labour13 The additional benefits of using unemployed labour14 The opportunity costs of imports15 Transfer payments and double counting PART IVExternal effects16 Introduction to external effects17 Adverse spillovers18 Internalizing externalities19 Evaluating spillovers20 Compensating for environmental damage PART VInvestment criteria21 Introduction to investment criteria22 Crude investment criteria23 The discounted present value criterion24 The internal rate of return25 The alleged superiority of the discounted present value criterion compared with the internal rate of return criterion and the net benefit ratio26 Investment criteria in an ideal capital market27 Calculation of rates of return and of time preference28 Critique of the discounted present value criterion (I)29 Critique of the discounted present value criterion (II)30 The normalized compounded terminal value criterion (I)31 The normalized compounded terminal value criterion (II)32 The Pareto criterion and generational time33 Cost-Benefit Analysis and normative economicsPART VIUncertainty34 Risk and certainty equivalence35 Decision rules and heuristics (I)36 Decision rules and heuristics (II)37 How practical are decision rules and heuristics?38 Simple probability in decision making39 Mixed strategies in decision making40 Four additional strategems for coping with uncertainty PART VIITopics frequently encountered in Cost-Benefit Analysis 41 Valuation issues and methods42 Benefit transfers43 Pair-wise comparison44 Cost-Benefit Analysis and behavioural economics45 Cost-Benefit Analysis in developing countries46 The value of time 47 Measuring the benefits of recreational areas (I)48 Travel Cost Method49 Cost-Benefit Analysis and public health50 The value of statistical life51 Estimating the economic cost of air pollution on health52 Economic cost of diseases53 CBA and the problem of locating environmentally noxious facilities (NIMBYs) ? an informal discussion PART VIIIFurther notes and advanced materials54 A summing upAppendix 1: Cost-Effectiveness AnalysisAppendix 2: The alleged contradiction of the Kaldor?Hicks criterionAppendix 3: The problem of second?bestAppendix 4: Origins of the Hicksian measures of consumer surplusAppendix 5: Marginal curve measures of consumer surplusAppendix 6: The concept and measure of rentAppendix 7: Marginal curve measures of rentAppendix 8: The limited applicability of property rightsAppendix 9: Deadweight loss or love’s labour lost Appendix 10: The value of human lifeAppendix 11: The rate of time preferenceAppendix 12: Selecting a set of investment projects for given political objectivesAppendix 13: Why Cost-Benefit Analysis is useful for regulatory reformAppendix 14: Valuing Household Production