Cost-benefit analysis /
Edward J. Mishan.
- New York, N.Y. : Praeger, 1976.
- 454 páginas : ilustrada con gráficos ; 23 cm.
- Praeger special studies in international business, finance and trade .
Foreword, x -- Preface to second edition, xiv -- Preface to first edition, xvi -- Part I. Some simplified examples of cost-benefit studies, 1 -- 1. Introductory, 1 -- 2. An underground railway, 3 -- 3. Disease control, 6 -- 4. Reservoir construction, 9 -- 5. Channel tunnel, 13 -- 6. Cost-benefit capacity adjustments, 17 -- Part II. Economic concepts of costs and benefits, 24 -- 7. Consumers' surplus, 24 -- 8. Consumers' surplus when other prices change, 40 -- 9. Consumers' surplus when factors other than prices change, 46 -- 10. Rents and producers' surpluses, 55 -- 11. Opportunity cost, 65 -- 12. Transfer payments and double counting, 75 -- 13. Shadow pricing (I), 81 -- 14. Shadow pricing (II), 92 -- 15. The problem of second best, 98 -- Part III. External effects, 109 -- 16. Introduction to external effects, 109 -- 17. Internalizing external effects, 117 -- 18. On the valuation of spillovers, 122 -- 19. Environmental spillovers, 127 -- 20. The economic concept of exact compensation, 133 -- 21. The effect of legal liability on the evaluation of spillovers, 139 -- 22. Optimal methods of correcting spillovers, 145 -- 23. The costs of implementing Pareto improvements, 153 -- 24. Horse and rabbit stew, 160 -- Part IV. Investment criteria, 165 -- 25. Introduction to investment criteria, 165 -- 26. Crude investment criteria, 170 -- 27. The present discounted value criterion, 175 -- 28. The internal rate of return, 183 -- 29. The alleged superiority of discounted present value criterion, 187 -- 30. Investment criteria in an ideal economy, 196 -- 31. The rate of discount and the social rate of time preference (I), 199 -- 32. The rate of discount and the social rate of time preference (II), 205 -- 33. What rate of discount should be used?, 212 -- 34. The social opportunity cost of public investment, 219 -- 35. A normalization procedure for public investment -the problem, 225 -- 36. A normalization procedure for public investment -the rules, 232 -- 37. A normalization procedure for public investment -the implications, 239 -- 38. A normalization procedure for public investment -an applied example, 243 -- 39. Selecting a set of investment projects, 254 -- 40. A note on the calculation of P1, P2, A1, and A2, 263 -- Part V. particular problems in project evaluation, 273 -- 41. The value of time saved, 273 -- 42. The benefits of a recreation area (I), 279 -- 43. The benefits of a recreation area (II), 286 -- 44. The opportunity cost of unemployed labour, 293 -- 45. Loss of life and limb (I), 298 -- 46. Loss of life and limb (II), 310 -- 47. Measuring pollution damage by variations in property values (I), 321 -- 48. Measuring pollution damage by variations in property values (II), 327 -- Part VI. Uncertainty, 337 -- 49. Certainty equivalence, 337 -- 50. Game theory (I), 340 -- 51. Game theory (II), 345 -- 52. Simple probability in decision making, 352 -- 53. Conditional probability in decision making, 355 -- 54. How practical are game theory decision techniques?, 360 -- 55. The utility approach, 364 -- 56. Popular devices for coping with uncertainty, 371 -- 57. Recourse to the yield on risky private investment, 376 -- Part VII. Further notes relating to cost-benefit analysis, 382 -- Note A. The Welfare basis of cost benefit analysis, 382 -- 58. The social rationale of welfare economics, 382 -- 59. Cost-benefit analysis and the Pareto principle (I), 390 -- 60. Cost-benefit analysis and the Pareto principle (II), 397 -- 61. Consistency in project evaluation (I), 403 -- 62. Consistency in project evaluation (II), 411 -- Note B. More accurate measures of economic surplus, 416 -- 63. The concept and measure of consumer's surplus, 416 -- 64. Marginal curve measures of consumer's surplus, 422 -- 65. The concept and measure of rent, 430 -- 66. Marginal curve measures of rent, 435 -- Note C. Allocation, distribution and equity, 441 -- 67. The choice of L law of L law, 441 -- Index, 450.