Benefit - cost analysis informs which policies or programs most benefit society when implemented by governments and institutions around the world. This volume brings together leading researchers and practitioners to recommend strategies and standards to improve the consistency and credibility of such analyses, assisting analysts of all types in achieving a greater uniformity of practice. Although new analytical approaches are constantly being used and tested, this book supports the emergence of a professional culture adhering to a set of principles and standards that can be used to identify useful analytical processes and discard less useful ones. Contributors to this volume come from a wide variety of backgrounds and include authors of leading textbooks, editors of journals, former government officials, and practitioners whose analyses have shaped decisions about education, the environment, security, income distribution and other vital social and economic policies. Students and professors of public sector economics will find much of interest in this groundbreaking book. Practitioners working in government, non-profit organizations and international institutions, including welfare economists, policy analysts, environmentalists, engineers and others will also benefit from this volume's sophisticated and practical recommendations
Contents: Introduction Professionalizing Benefit - Cost Analysis R. Scott Farrow and Richard O. Zerbe, Jr. Principles for Benefit - Cost Analysis 1. An Assessment of Important Issues Concerning the Application of Benefit - Cost Analysis to Social Policy Aidan R. Vining and David L. Weimer 2. Toward Standardization of Benefit - Cost Analysis of Early Childhood Interventions Lynn A. Karoly 3. Principles and Standards for Benefit - Cost Analysis of Public Health Preparedness and Pandemic Mitigation Programs Joseph H. Cook 4. Principles and Standards for the Benefit - Cost Analysis of Crime John R. Lott, Jr. 5. Towards Principles and Standards for the Benefit - Cost Analysis of Safety Scott Farrow and W. Kip Viscusi 6. Developing General Equilibrium Benefit Analyses for Social Programs: An Introduction and Example H. Allen Klaiber and V. Kerry Smith 7. Appropriate Discounting for Benefit - Cost Analysis David F. Burgess and Richard O. Zerbe, Jr. 8. Ethical Benefit Cost Analysis as Art and Science - Ten Rules for Benefit - Cost Analysis Richard O. Zerbe, Jr. 9. Incorporating Distributional Issues into Benefit Cost Analysis: Why, How, and Two Empirical Examples Using Non-market Valuation John B. Loomis 10. Behavioral Economics and the Conduct of Benefit - Cost Analysis: Towards Principles and Standards Lisa A. Robinson and James K. Hammitt Conclusion 11. Principles and Standards for Benefit - Cost Analysis Richard O. Zerbe, Jr., Tayler Blake Davis, Nancy Garland and Tyler Scott
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