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This concise yet comprehensive introduction aims to outline the core principles of Cost–Benefit Analysis (CBA), laying them out in an accessible manner with minimum technical detail. The applied nature of the subject is emphasized by showing how each of the principles is applied to an actual public policy intervention, covering transport, education, health and the environment. Robert Brent demonstrates how economic efficiency and equity can be combined as social objectives to help determine decisions that can increase satisfaction for all.
This thoroughly updated second edition incorporates key ideas and discussions on issues such as wider economic impacts, the treatment of risk, and the importance of institutional arrangements in ensuring the correct use of technique. Ginés de Rus considers whether public decisions, such as investing in high-speed rail links, privatizing a public enterprise or protecting a natural area, may improve social welfare.
New institutional economics (NIE) is a powerful tool for understanding real world phenomena. This Advanced Introduction explores NIE’s answers to fundamental questions about the organization, growth and development of economies, such as why are some countries rich and others poor? Why are activities organized as firms or markets or through alternative organizational solutions? When are shared resources overexploited?
Offering an extensive and coherent presentation of theory on the experience economy, this stimulating Advanced Introduction discusses what experiencing is and why people are seeking experiences. Jon Sundbo defines the experience concept in contrast to similar concepts such as culture and creative economies, and presents measurements of the value of the experience economy.
This thoroughly updated second edition incorporates key ideas and discussions on issues such as wider economic impacts, the treatment of risk and the importance of institutional arrangements in ensuring the correct use of technique. Ginés de Rus considers whether public decisions, such as investing in high-speed rail links, privatizing a public enterprise or protecting a natural area, may improve social welfare. Key features include: A comprehensive overview of the philosophy of the Cost-Benefit Analysis approach to appraisal to engage students with a basic model for informing responsible decision-making Expert blending of relevant case studies with insightful analysis, enabling students to see the model's application to real-world scenarios An accessible and readable style, which encourages classroom discussions as well as insights for the practical application of this economic tool. Introduction to Cost-Benefit Analysisis an ideal textbook for graduate and advanced undergraduate students of economics, engaging with important ideas and the latest thinking in the field. It will also benefit economists and practitioners involved in the economic evaluation of projects. Acclaim for the first edition: 'In Introduction to Cost-Benefit Analysis, Ginés de Rus provides the conceptual foundations of a cost-benefit analysis undertaken for public investments. . .This book serves well as an introductory textbook for courses in urban planning, public economics, and policy and program evaluation for advanced undergraduate and graduate students. . .economists may find it useful as a guide of the basics of cost-benefit analysis.' - Uma Kelekar, Journal of Planning Education and Research 'Ginés de Rus has produced an excellent book which will be very useful to advanced undergraduate and graduate students in public economics as well as to professional economists working with project evaluations. The book can serve as a manual for how to undertake best-practice project analysis within a broad range of projects but in particular within the transportation sector. This text is highly recommended.' - Per-Olov Johansson, Stockholm School of Economics, Sweden 'This book shows that cost-benefit analysis does not need to be an esoteric and arcane subject. In a step-by-step presentation, with little more than introductory microeconomics, some clear reasoning, and many examples, Professor Ginés de Rus presents the essentials of applied welfare economics concepts. Any undergraduate student or practitioner who wants to start their training in CBA should consider reading this text.' - Massimo Florio, University of Milan, Italy
Why policies should be based on careful consideration of their costs and benefits rather than on intuition, popular opinion, interest groups, and anecdotes. Opinions on government policies vary widely. Some people feel passionately about the child obesity epidemic and support government regulation of sugary drinks. Others argue that people should be able to eat and drink whatever they like. Some people are alarmed about climate change and favor aggressive government intervention. Others don't feel the need for any sort of climate regulation. In The Cost-Benefit Revolution, Cass Sunstein argues our major disagreements really involve facts, not values. It follows that government policy should not be based on public opinion, intuitions, or pressure from interest groups, but on numbers—meaning careful consideration of costs and benefits. Will a policy save one life, or one thousand lives? Will it impose costs on consumers, and if so, will the costs be high or negligible? Will it hurt workers and small businesses, and, if so, precisely how much? As the Obama administration's “regulatory czar,” Sunstein knows his subject in both theory and practice. Drawing on behavioral economics and his well-known emphasis on “nudging,” he celebrates the cost-benefit revolution in policy making, tracing its defining moments in the Reagan, Clinton, and Obama administrations (and pondering its uncertain future in the Trump administration). He acknowledges that public officials often lack information about costs and benefits, and outlines state-of-the-art techniques for acquiring that information. Policies should make people's lives better. Quantitative cost-benefit analysis, Sunstein argues, is the best available method for making this happen—even if, in the future, new measures of human well-being, also explored in this book, may be better still.
This Handbook provides an authoritative overview of current research in the field of cost-benefit analysis and is designed as a starting point for those interested in undertaking advanced research. The Handbook contains major contributions to the development of the field, focussing on standard microeconomic policy evaluations, the relatively neglected area of macroeconomic policy and its integration into a formal CBA framework, and dynamic considerations in CBA Presenting insights from many influential thinkers, and edited by a leading academic in the field, this comprehensive work will prove an invaluable reference tool for economists, researchers and scholars.
Professor Fikret Berkes provides a unique introduction to the social and interdisciplinary dimensions of biodiversity conservation. Examining a range of approaches, new ideas, controversies and debates, he demonstrates that biodiversity loss is not primarily a technical issue, but a social problem that operates in an economic, political and cultural context. Berkes concludes that conservation must be democratized in order to broaden its support base and build more inclusive constituencies for conservation.
Jon Pierre and Guy Peters expertly guide the reader through governance – one of the most widely used terms in political science – and its differing interpretations, with comprehensive discussion of the key issues covering global as well as local level governance. A detailed look into what constitutes ‘good governance’, whether produced by a government or by more informal means, is also explored.