158:. Jules Dupuit pioneered this approach by first calculating "the social profitability of a project like the construction of a road or bridge" In an attempt to answer this, Dupuit began to look at the utility users would gain from the project. He determined that the best method of measuring utility is by learning one's willingness to pay for something. By taking the sum of each user's willingness to pay, Dupuit illustrated that the social benefit of the thing (bridge or road or canal) could be measured. Some users may be willing to pay nearly nothing, others much more, but the sum of these would shed light on the benefit of it. It should be reiterated that Dupuit was not suggesting that the government perfectly price-discriminate and charge each user exactly what they would pay. Rather, their willingness to pay provided a theoretical foundation on the societal worth or benefit of a project. The cost of the project proved much simpler to calculate. Simply taking the sum of the materials and labor, in addition to the maintenance afterward, would give one the cost. Now, the costs and benefits of the project could be accurately analyzed, and an informed decision could be made.
2319:
income people, one monetary unit is worth less relative to low income people, so they are more willing to give up one unit in order to make a change that is favourable for them. This means that there is no symmetry in agents, i.e. some people benefit more from the same absolute monetary benefit. Any welfare change, no matter positive or negative, affects people with a lower income stronger than people with a higher income, even if the exact monetary impacts are identical. This is more than just a challenge to the distribution of benefits in CBA, it is a critique of the ability of CBA to accurately measure benefits as, according to this critique, using unweighted absolute willingness to pay overstates the costs and benefits to the wealthy, and understates those costs and benefits to the poor. Sometimes this is framed in terms of an argument about democracy, that each person's preferences should be given the same weight in an analysis (one person one vote), while under a standard CBA model the preferences of the wealthy are given greater weight.
439:. Road safety can be measured in cost per life saved, without assigning a financial value to the life. However, non-monetary metrics have limited usefulness for evaluating policies with substantially different outcomes. Other benefits may also accrue from a policy, and metrics such as cost per life saved may lead to a substantially different ranking of alternatives than CBA.In some cases, in addition to changing the benefit indicator, the cost-benefit analysis strategy is directly abandoned as a measure. In the 1980s, to ensure workers' safety, the US Supreme Court made an important decision to abandon the consideration of return on investment and instead seek the lowest cost-benefit to meet specific standards.
2271:. The order changed some of Reagan's language, requiring benefits to justify (rather than exceeding) costs and adding "reduction of discrimination or bias" as a benefit to be analyzed. Criticisms of CBA (including uncertainty valuations, discounting future values, and the calculation of risk) were used to argue that it should play no part in the regulatory process. The use of CBA in the regulatory process continued under the Obama administration, along with the debate about its practical and objective value. Some analysts oppose the use of CBA in policy-making, and those in favor of it support improvements in analysis and calculations.
431:) are often used to estimate compensation associated with a policy. Stated preferences are a direct way of assessing willingness to pay for an environmental feature, for example. Survey respondents often misreport their true preferences, however, and market behavior does not provide information about important non-market welfare impacts. Revealed preference is an indirect approach to individual willingness to pay. People make market choices of items with different environmental characteristics, for example, revealing the value placed on environmental factors.
2297:
to make statements about efficiency without addressing issues of income distribution. This has allowed economists to stay silent on issues of equity, while focusing on the more familiar task of measuring costs and benefits". The challenge raised is that it is possible for the benefits of successive policies to consistently accrue to the same group of individuals, and CBA is ambivalent between providing benefits to those that have received them in the past and those that have been consistently excluded. Policy solutions, such as
2344:
weighting, yet cost-benefit analysis suffers from the inability to consider these factors comprehensively, thus lacking the integrity and comprehensiveness of social welfare judgements. Therefore, for projects with a higher standard of evaluation, other evaluation methods need to be used and referred to in order to compensate for these shortcomings and to assess the impact of the project on society in a more comprehensive and integrated manner.
6201:
41:, is a systematic approach to estimating the strengths and weaknesses of alternatives. It is used to determine options which provide the best approach to achieving benefits while preserving savings in, for example, transactions, activities, and functional business requirements. A CBA may be used to compare completed or potential courses of action, and to estimate or evaluate the value against the
6190:
1041:
2310:
future generations. Some scholars argue that the use of discounting makes CBA biased against future generations, and understates the potential harmful impacts of climate change. The growing relevance of climate change has led to a re-examination of the practice of discounting in CBA. These biases can lead to biased resource allocation.
638:: valuing money which they will receive in the near future more than money they will receive in the distant future. Empirical studies suggest that people discount future benefits in a way similar to these calculations. The choice makes a large difference in assessing interventions with long-term effects. An example is the
752:
313:. This is especially true when one type of physical outcome is sought, such as a reduction in energy use by an increase in energy efficiency. Using cost-effectiveness analysis is less laborious and time-consuming, since it does not involve the monetization of outcomes (which can be difficult in some cases).
2296:
criterion which does not take into account distributional issues. This means, that positive net-benefits are decisive, independent of who benefits and who loses when a certain policy or project is put into place. Phaneuf and
Requate phrased it as follows "CBA today relies on the Kaldor-Hicks criteria
2322:
Taken together, according to this objection, not using weights is a decision in itself – richer people receive de facto a bigger weight. To compensate for this difference in valuation, it is possible to use different methods. One is to use weights, and there are a number of different approaches for
2318:
The main criticism stems from the diminishing marginal utility of income. According to this critique, without using weights in the CBA, it is not the case that everyone "matters" the same but rather that people with greater ability to pay receive a higher weight. One reason for this is that for high
2279:
As a concept in economics, cost-benefit analysis has provided a valuable reference for many public construction and governmental decisions, but its application has gradually revealed a number of drawbacks and limitations. A number of critical arguments have been put forward in response. That include
1119:
Suppose that we have sources of uncertainty in a CBA that are best treated with the Monte Carlo method, and the distributions describing uncertainty are all continuous. How do we go about choosing the appropriate distribution to represent the sources of uncertainty? One popular method is to make use
423:
compensation (implying that the public has a right to the benefits of the policy) for the policy's welfare change. The guiding principle of evaluating benefits is to list all parties affected by an intervention and add the positive or negative value (usually monetary) that they ascribe to its effect
4089:
A second, and scarcely less controversial, practice is that of discounting the wellbeing of future generations by means of the social rate of discount....The green critique of social discounting is easily summarized. It is one thing to discount one's own future wellbeing; it is a morally much more
3806:
The final part of this argument is analogous to the "one-person, one vote" voting principle: in a democracy, low-income persons should have as much influence over decisions on whether to undertake public projects as high-income persons. In other words, measures of changes in consumer surplus for
2343:
Economic cost-benefit analysis tends to limit the assessment of benefits to economic values, ignoring the importance of other value factors such as the wishes of minority groups, inclusiveness and respect for the rights of others. These value factors are difficult to rank and measure in terms of
2309:
Others have critiqued the practice of discounting future costs and benefits for a variety of reasons, including the potential undervaluing of the temporally distant cost of climate change and other environmental damage, and the concern that such a practice effectively ignores the preferences of
203:
of 1969 required CBA for regulatory programs; since then, other governments have enacted similar rules. Government guidebooks for the application of CBA to public policies include the
Canadian guide for regulatory analysis, the Australian guide for regulation and finance, and the US guides for
103:. CBA helps predict whether the benefits of a policy outweigh its costs (and by how much), relative to other alternatives. This allows the ranking of alternative policies in terms of a cost–benefit ratio. Generally, accurate cost–benefit analysis identifies choices which increase
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of people. Another method is to use percentage willingness to pay, where willingness to pay is measured as a percentage of total income or wealth to control for income. These methods would also help to address distributional concerns raised by the Kaldor-Hick criterion.
3764:
One may be concerned that Kaldor-Hicks allows for unequally distributed benefits regardless of whether absolute or percentage willingness to pay is used. If policies always benefit one group and never benefit another group, it may not matter how those benefits are
2249:(OIRA) to review agency regulations and requiring federal agencies to produce regulatory impact analyses when the estimated annual impact exceeded $ 100 million. During the 1980s, academic and institutional critiques of CBA emerged. The three main criticisms were:
1682:
642:, which suggests that long-term returns on equities may be higher than they should be after controlling for risk and uncertainty. If so, market rates of return should not be used to determine the discount rate because they would undervalue the distant future.
434:
The value of human life is controversial when assessing road-safety measures or life-saving medicines. Controversy can sometimes be avoided by using the related technique of cost–utility analysis, in which benefits are expressed in non-monetary units such as
4120:
This practice leads to more concerning conclusions such as the lower valuing of future lives due to discounting of future benefit streams. This can have a significant impact, especially when looking at environmental policies that have costs far into the
3890:
257:
promoted CBA for major transport investments with the 1994 publication of its guidebook. US federal and state transport departments commonly apply CBA with a variety of software tools, including HERS, BCA.Net, StatBenCost, Cal-BC, and
633:
The selection of a discount rate for this calculation is subjective. A smaller rate values the current generation and future generations equally. Larger rates (a market rate of return, for example) reflects human present bias or
631:
119:. Although CBA can offer an informed estimate of the best alternative, a perfect appraisal of all present and future costs and benefits is difficult; perfection, in economic efficiency and social welfare, is not guaranteed.
1036:{\displaystyle r=\underbrace {r_{f}} _{\text{Risk-Free Rate}}+\beta _{M}\underbrace {\left} _{\text{Market Risk}}+\beta _{SMB}\underbrace {\left} _{\text{Size Factor}}+\beta _{HML}\underbrace {\left} _{\text{Value Factor}}}
1531:
415:. Both costs and benefits can be diverse. Costs tend to be most thoroughly represented in cost–benefit analyses due to relatively-abundant market data. The net benefits of a project may incorporate cost savings, public
1248:
96:
Cost–benefit analysis is often used by organizations to appraise the desirability of a given policy. It is an analysis of the expected balance of benefits and costs, including an account of any alternatives and the
1547:
122:
The value of a cost–benefit analysis depends on the accuracy of the individual cost and benefit estimates. Comparative studies indicate that such estimates are often flawed, preventing improvements in
251:, reviewed transport appraisal guidance of EU member states and found significant national differences. HEATCO aimed to develop guidelines to harmonise transport appraisal practice across the EU.
5177:
2216:
49:), commercial transactions, and project investments. For example, the U.S. Securities and Exchange Commission must conduct cost-benefit analyses before instituting regulations or deregulations.
3153:
US Department of Health and Human
Services, 1993. Feasibility, Alternatives, And Cost/Benefit Analysis Guide, Administration for Children and Families, and Health Care Finance Administration.
2095:
1974:
1420:
2256:
That CBA is inherently anti-regulatory, and therefore a biased tool. The monetization of policy impacts is an inappropriate tool for assessing mortality risks and distributional impacts.
1086:. Although it can be factored into the discount rate (to have uncertainty increasing over time), it is usually considered separately. Particular consideration is often given to agent
199:
CBA was expanded to address the intangible and tangible benefits of public policies relating to mental illness, substance abuse, college education, and chemical waste. In the US, the
4344:
Flyvbjerg B, Bester DW. The Cost-Benefit
Fallacy: Why Cost-Benefit Analysis Is Broken and How to Fix It. Journal of Benefit-Cost Analysis. 2021;12(3):395-419. doi:10.1017/bca.2021.9
139:
2053:
2253:
That CBA could be used for political goals. Debates on the merits of cost and benefit comparisons can be used to sidestep political or philosophical goals, rules and regulations.
743:
229:
1887:
3134:
Australian
Government, 2006. Introduction to Cost–Benefit Analysis and Alternative Evaluation Methodologies and Handbook of Cost–Benefit Analysis, Finance Circular 2006/01.
2171:
2140:
2016:
1932:
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1366:
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1342:
1068:
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537:
427:
The actual compensation an individual would require to have their welfare unchanged by a policy is inexact at best. Surveys (stated preferences) or market behavior (
2780:
336:
has been cited in retrospective studies as a case in which benefits exceeded costs, but knowledge of the benefits (attributable largely to the benefits of reducing
236:. NATA was first applied to national road schemes in the 1998 Roads Review, and was subsequently rolled out to all transport modes. Maintained and developed by the
1304:
4469:
4000:
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294:, CBA may be an inadequate measure because willingness-to-pay methods of determining the value of human life can be influenced by income level. Variants, such as
1131:
454:). Monetary values may also be assigned to other intangible effects such as business reputation, market penetration, or long-term enterprise strategy alignment.
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532:
504:
484:
2468:
2280:
concerns about measuring the distribution of costs and benefits, discounting the costs and benefits to future generations, and accounting for the diminishing
165:
initiated the use of CBA in the US, after the
Federal Navigation Act of 1936 mandated cost–benefit analysis for proposed federal-waterway infrastructure. The
5272:
2453:
2246:
4907:
4811:, Chapter 8, “The Positive Biases of Technology Assessments and Cost Benefit Analyses”, New Society Publishers, Gabriola Island, British Columbia, Canada,
4661:
2697:, Chapter 8, “The Positive Biases of Technology Assessments and Cost Benefit Analyses”, New Society Publishers, Gabriola Island, British Columbia, Canada,
2631:
3862:
Exclusively monetary evaluations jeopardize future generations through the use of a discount rate that renders impacts 500 years from now insignificant.
6071:
5570:
5502:
5000:
1426:
4624:
Hansjurgens, B. (2004). Economic valuation through cost-benefit analysis – possibilities and limitations. Toxicology (Amsterdam), 205(3), 241–252.
3138:
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3157:
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for the company and then assuming that the risk profile of a given project is similar to that the company faces. Commonly used models include the
275:
5027:
4355:
Nurmi, Väinö; Ahtiainen, Heini (2018-08-01). "Distributional
Weights in Environmental Valuation and Cost–Benefit Analysis: Theory and Practice".
169:
was instrumental in establishing CBA as federal policy, requiring that "the benefits to whomever they accrue in excess of the estimated costs."
4992:
192:
development in 1958. It was applied in the US to water quality, recreational travel, and land conservation during the 1960s, and the concept of
6246:
5172:
271:
61:
To provide a basis for comparing investments (or decisions), comparing the total expected cost of each option with its total expected benefits.
3373:
Buekers, J (2015). "Health impact model for modal shift from car use to cycling or walking in
Flanders: application to two bicycle highways".
2552:
4857:
4752:
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162:
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172:
More recently, cost-benefit analysis has been applied to decisions regarding investments in cybersecurity-related activities (e.g., see the
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CBA attempts to measure the positive or negative consequences of a project. A similar approach is used in the environmental analysis of
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of income. in addition, relying solely on cost-benefit analysis may lead to neglecting the multifaceted value factors of a project.
1841:
200:
3537:
PHILIP SHABECOFF Special to The New York Times. (1981). Safety Agency to Forgo 'Cost-Benefit
Analysis' New York Times (1923-), A11.
2398:
4828:
Design of Water-resource
Systems: New Techniques for Relating Economic Objectives, Engineering Analysis, and Governmental Planning
3437:
5436:
5265:
3247:
Guide to Benefit–Cost Analysis in Transport Canada. Transport Canada. Economic Evaluation Branch, Transport Canada, Ottawa, 1994
2245:
mandated its use in the regulatory process. After campaigning on a deregulation platform, he issued the 1981 EO authorizing the
316:
It has been argued that if modern cost–benefit analyses had been applied to decisions such as whether to mandate the removal of
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267:
233:
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4816:
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2702:
375:
263:
247:'s Developing Harmonised European Approaches for Transport Costing and Project Assessment (HEATCO) project, part of the EU's
2569:
5461:
5229:
5016:
4688:
Dupuit, Jules (1969). "On the Measurement of the Utility of Public Works". In Arrow, Kenneth J.; Scitovsky, Tibor (eds.).
2176:
333:
303:
279:
58:
To determine if an investment (or decision) is sound, ascertaining if – and by how much – its benefits outweigh its costs.
5762:
5022:
5008:
665:
5563:
5401:
5058:
1677:{\displaystyle J=\max _{f}\;\int _{\mathcal {S}}\left(-f\log f+\lambda _{0}f+\sum _{i=1}^{m}\lambda _{i}r_{i}f\right)dx}
1275:
1125:
1121:
1114:
1101:, which indicates how results respond to parameter changes. A more formal risk analysis may also be undertaken with the
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127:
6241:
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6008:
5696:
5345:
5258:
5198:
659:
310:
90:
66:
4682:"A cost–benefit analysis of document management strategies used at a financial institution in Zimbabwe: A case study"
2501:"A cost–benefit analysis of document management strategies used at a financial institution in Zimbabwe: A case study"
1718:
3236:
2259:
That the length of time necessary to complete CBA can create significant delays, which can impede policy regulation.
6256:
6236:
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5706:
5701:
5691:
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5411:
5239:
5203:
5131:
2478:
2058:
1937:
1124:, which states that the distribution with the best representation of current knowledge is the one with the largest
436:
299:
4745:
Cost–Benefit Analysis of Multi-Level Government: The Case of EU Cohesion Policy and US Federal Investment Policies
4135:"Intergenerational equity, discounting, and the role of cost-benefit analysis in evaluating global climate policy"
3310:
1372:
295:
78:
6136:
5612:
4573:
Samuelson, P. A. (1977). "Reaffirming the Existence of "Reasonable" Bergson-Samuelson Social Welfare Functions".
3547:
Campbell, Harry F.; Brown, Richard (2003). "Valuing Traded and Non-Traded Commodities in Benefit–Cost Analysis".
3238:
Guide to Cost–Benefit Analysis of Major Projects. Evaluation Unit, DG Regional Policy, European Commission, 2008.
3212:
2386:
248:
225:
166:
130:. Interest groups may attempt to include (or exclude) significant costs in an analysis to influence its outcome.
3786:. David H. Greenberg, Aidan R. Vining, David Leo Weimer (5th ed.). Cambridge, United Kingdom. p. 542.
2676:"The Effectiveness of a Costs and Benefits Analysis in Making Federal Government Decisions: A Literature Review"
1090:: preferring a situation with less uncertainty to one with greater uncertainty, even if the latter has a higher
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of a decision, project, or policy. It is commonly used to evaluate business or policy decisions (particularly
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2419:
2327:
2221:
359:
5340:
3016:
Weisbrod, Burton A. (1981). "Benefit–Cost Analysis of a Controlled Experiment: Treating the Mentally Ill".
82:
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Tuominen, Pekka; Reda, Francesco; Dawoud, Waled; Elboshy, Bahaa; Elshafei, Ghada; Negm, Abdelazim (2015).
2365:
2021:
635:
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Heinzerling, L. (2000), "The Rights of Statistical People", Harvard Environmental Law Review 24, 189–208.
2481: – Characterization and reduction of uncertainties in both computational and real world applications
173:
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5355:
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Transportation Research Board, Transportation Economics Committee: Transportation Benefit–Cost Analysis
3297:
3154:
3135:
2268:
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1850:
650:
For publicly traded companies, it is possible to find a project's discount rate by using an equilibrium
639:
420:
400:
337:
3277:
332:, the measures would not have been implemented (although all are considered highly successful). The US
3842:. Donald M. Borchert (2nd ed.). Detroit: Thomson Gale/Macmillan Reference USA. pp. 285–261.
3307:
Minnesota Department of Transportation: Benefit Cost Analysis. MN DOT Office of Investment Management
2389: – Hypothesis that if a contract continues to exist it must be efficient due to survivorship bias
442:
Another metric is valuing the environment, which in the 21st century is typically assessed by valuing
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5426:
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5126:
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3716:
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3124:
3059:
Plotnick, Robert D. (1994). "Applying Benefit–Cost Analysis to Substance Abuse Prevention Programs".
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1990:
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511:
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389:
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5081:
4491:
Are All Lives Equal? Why Cost-Benefit Analysis Values Rich Lives More and How Philosophy Can Fix It
4440:. David H. Greenberg, Aidan R. Vining, David Leo Weimer (5th ed.). Cambridge, United Kingdom.
4105:
Are All Lives Equal? Why Cost-Benefit Analysis Values Rich Lives More and How Philosophy Can Fix It
3749:
Are All Lives Equal? Why Cost-Benefit Analysis Values Rich Lives More and How Philosophy Can Fix It
3326:
2550:
2105:
1712:
1074:, which allows for an arbitrary number of risk premiums in the calculation of the required return.
463:
428:
70:
4823:
1687:
462:
CBA generally attempts to put all relevant costs and benefits on a common temporal footing, using
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5772:
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4191:
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3994:
3945:
3813:
3325:
California Department of Transportation: Benefit–Cost Analysis Guide for Transportation Planning
3248:
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2998:
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2715:
2442:
2331:
1981:
1833:
1102:
1083:
443:
416:
217:
1312:
1046:
4839:
Efficiency in Government through Systems Analysis: With Emphasis on Water Resources Development
3681:
3295:
2971:
Weisbrod, Burton A. (1964). "Collective-Consumption Services of Individual-Consumption Goods".
77:, regardless of whether they are incurred at different times. Other related techniques include
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382:
123:
116:
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74:
73:; all flows of benefits and costs over time are expressed on a common basis in terms of their
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4306:
3276:
US Federal Highway Administration: Cost–Benefit Forecasting Toolbox for Highways, Circa 2001
1836:. Examples of commonly used continuous maximum entropy distributions in simulations include:
6126:
6106:
6013:
5963:
5934:
5792:
5757:
5654:
5632:
5537:
5391:
4965:
4916:
4878:
4773:
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4403:
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4146:
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administration during the 1990s. Clinton furthered the anti-regulatory environment with his
1832:
There is a direct correspondence between the form of a maximum entropy distribution and the
1105:. However, even a low parameter of uncertainty does not guarantee the success of a project.
655:
291:
254:
3807:
different persons should be adjusted to what they would be if everyone had the same income.
1070:
terms correspond to the factor loadings. A generalization of these methods can be found in
6194:
5666:
5603:
5522:
5466:
5012:
3642:
Campbell, Harry F.; Brown, Richard (2003). "Incorporating Risk in Benefit–Cost Analysis".
3402:"Economic Appraisal of Energy Efficiency in Buildings Using Cost-effectiveness Assessment"
3314:
3283:
3254:
3161:
3142:
2902:
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1280:
1091:
317:
189:
155:
2607:
2533:
2241:'s administration. Although CBA in US policy-making dates back several decades, Reagan's
2237:
The increased use of CBA in the US regulatory process is often associated with President
4226:
3265:
US Federal Highway Administration: Economic Analysis Primer: Benefit–Cost Analysis 2003
6231:
6169:
5909:
5868:
5787:
5579:
5406:
5121:
4174:
Tarsney, Christian (2017). "Does a discount rate measure the cost of climate change?".
2845:
2719:
2324:
517:
489:
469:
329:
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244:
196:
was developed to represent the non-tangible value of resources such as national parks.
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17:
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4151:
4134:
4103:
4049:
4016:"Costa, cancer, and coronavirus: contractualism as a guide to the ethics of lockdown"
3747:
3674:
3002:
2922:
2810:
2450: – Concept that taxpayers should be able to choose what their taxes are used for
2374:
2359:
2354:
2238:
1087:
651:
507:
466:
calculations. This is often done by converting the future expected streams of costs (
447:
221:
185:
69:. Benefits and costs in CBA are expressed in monetary terms and are adjusted for the
46:
4928:
320:
from gasoline, block the construction of two proposed dams just above and below the
6061:
5893:
5888:
5622:
4515:
Brekke, Kjell Arne (1997-04-01). "The numéraire matters in cost–benefit analysis".
4368:
3172:
Federal Emergency Management Administration, 1022. Guide to Benefit Cost Analysis.
2873:
2430:
2264:
321:
193:
151:
143:
4920:
4141:. Integrated assessments of mitigation, impacts and adaptation to climate change.
4032:
3680:. Wiley-Interscience (2nd ed.). Hoboken, NJ: John Wiley & Sons. pp.
3600:"Discounting the Distant Future: How Much Do Uncertain Rates Increase Valuations?"
3294:
US Federal Aviation Administration: Airport Benefit–Cost Analysis Guidance, 1999
2576:
1715:. Maximizing this functional leads to the form of a maximum entropy distribution:
626:{\displaystyle {\text{NPV}}=\sum _{t=0}^{\infty }{B_{t}-C_{t} \over {(1+r)^{t}}}}
6086:
5998:
5878:
5730:
5644:
4615:
T.O. McGarity A cost-benefit-state? Administrative Law Rev., 50 (1998), pp. 7-79
3173:
2395: – Macroeconomic relationship between defense spending and civilian welfare
419:(implying that the public has no legal right to the benefits of the policy), or
213:
108:
115:
by implementing the alternative with the lowest cost–benefit ratio can improve
5846:
5598:
5370:
5005:
4455:
4275:
4235:
4210:
4187:
3937:
3801:
3704:
3386:
3072:
2447:
1526:{\displaystyle \int _{\mathcal {S}}r_{i}(x)f(x)dx=\alpha _{i},\quad i=1,...,m}
99:
27:
Systematic approach to estimating the strengths and weaknesses of alternatives
4594:
4536:
4417:
4376:
4283:
4244:
4160:
2766:
188:, who laid out a welfare economics foundation for CBA and its application to
6157:
5924:
5841:
5836:
5649:
5350:
5037:
4625:
4259:
4084:
4015:
3986:
3968:
Priceless : on knowing the price of everything and the value of nothing
3857:
2517:
2500:
2462:
451:
4867:
Richardson, Henry S. (2000). "The Stupidity of the Cost–Benefit Analysis".
4762:
Frank, Robert H. (2000). "Why is Cost–Benefit Analysis so Controversial?".
4435:
4041:
3917:
3781:
3563:
Ch. 8 provides a useful discussion of non-market valuation methods for CBA.
2718:(2013). "The Diffusion of Regulatory Oversight". In Livermore, Michael A.;
1243:{\displaystyle H(X)=\mathbb {E} \left=-\int _{\mathcal {S}}f(x)\log f(x)dx}
6189:
4643:
Benefit–Cost Analysis: Financial and Economic Appraisal Using Spreadsheets
3644:
Benefit–Cost Analysis: Financial and Economic Appraisal using Spreadsheets
3549:
Benefit–Cost Analysis: Financial and Economic Appraisal using Spreadsheets
3337:
3123:
Canadian Cost–Benefit Guide: Regulatory Proposals, Treasury Canada, 2007.
3111:
Hazardous wastes: A Risk-Benefit Framework Applied to Cadmium and Asbestos
3080:
3045:
2865:
1306:. Suppose that we impose a series of constraints that must be satisfied:
5949:
5944:
5819:
5310:
4806:
4408:
4391:
4064:
3966:
3837:
2692:
2424:
399:
In United States regulatory policy, cost-benefit analysis is governed by
309:
For some environmental effects, cost–benefit analysis can be replaced by
138:
6003:
5902:
5814:
5335:
4602:
3438:"Applying Cost–Benefit to Past Decisions: Was Environmental Protection
3308:
2994:
2957:
2538:
The Harvard Law School Program on Corporate Governance Discussion Paper
1540:
conditions. Maximizing the entropy with these constraints leads to the
5050:
3876:
Cost-benefit analysis: legal, economic, and philosophical perspectives
3627:
3037:
5978:
5431:
5250:
4343:
3216:
3136:
http://www.finance.gov.au/publications/finance-circulars/2006/01.html
259:
4586:
3155:
http://www.acf.hhs.gov/programs/cb/systems/sacwis/cbaguide/index.htm
2986:
2220:
If we have a specified mean and variance on the log scale, then the
368:
Predict outcome of costs and benefits over the relevant time period.
4969:
4882:
4777:
4322:
3029:
2456: – Adage of the impossibility of getting something for nothing
2410: – Application of economic theory to analysis of legal systems
5863:
5745:
5725:
5305:
4684:, SA Journal of Information Management 15(2), Art. #540, 10 pages.
4260:"Ethics and Climate Change Cost-Benefit Analysis: Stern and After"
2724:
The Globalization of Cost–Benefit Analysis in Environmental Policy
2653:(Fourth ed.). Upper Saddle River, NJ: Pearson Prentice Hall.
1891:
It is assumed that we have maximum ignorance about the uncertainty
184:
CBA's application to broader public policy began with the work of
137:
5548:
5015:
site maintained by the Transportation Economics Committee of the
3892:
A Course in Environmental Economics: Theory, Policy, and Practice
2377: – Risk of the actual return being below the expected return
306:
to analyze the effects of health policies, may be more suitable.
6020:
3266:
2292:
CBA has been criticized in some disciplines as it relies on the
365:
Select measurement(s) and measure all cost and benefit elements.
42:
5552:
5254:
5054:
5041:
4709:
Water-resource Development: The Economics of Project Evaluation
4392:"Retrospectives: Cost–Benefit Analysis and the Classical Creed"
4211:"Climate change and the re-evaluation of cost-benefit analysis"
2889:
Water Resource Development: The Economics of Project Evaluation
4724:(Fifth ed.). New Jersey: Pearson Prentice Hall. pp.
2499:
David, Rodreck; Ngulube, Patrick; Dube, Adock (16 July 2013).
1082:
Risk associated with project outcomes is usually handled with
5178:
List of international healthcare accreditation organizations
2182:
2064:
1943:
1856:
1574:
1436:
1382:
1353:
1259:
1198:
232:. This presented balanced cost–benefit results and detailed
216:
project and was later used for many projects, including the
4069:. Vol. 4. Edward Craig, Routledge. London: Routledge.
4808:
Technofix: Why Technology Won't Save Us or the Environment
4716:
Folland, Sherman; Goodman, Allen C.; Stano, Miron (2007).
2694:
Technofix: Why Technology Won't Save Us or the Environment
240:, it was a cornerstone of UK transport appraisal in 2011.
4307:"Discounting, Climate Change, and the Ecological Fallacy"
4090:
questionable matter to discount other people's wellbeing.
3185:
Hugh Coombs; Ellis Jenkins; David Hobbs (18 April 2005).
2849:
348:
A generic cost–benefit analysis has the following steps:
2816:. Washington, DC: Georgetown University Press. pp.
4660:
Chakravarty, Sukhamoy (1987). "Cost–benefit analysis".
3717:"Executive Order 12866: Regulatory Planning and Review"
3467:(3rd ed.). Upper Saddle River, NJ: Prentice Hall.
3096:
Benefits, Costs, and Finance of Public Higher Education
2749:
Economics evolving : a history of economic thought
2458:
Pages displaying short descriptions of redirect targets
2403:
Pages displaying short descriptions of redirect targets
2383: – Process of making predictions about the economy
2370:
Pages displaying short descriptions of redirect targets
4805:
Huesemann, Michael H., and Joyce A. Huesemann (2011).
2691:
Huesemann, Michael H., and Joyce A. Huesemann (2011).
1097:
Uncertainty in CBA parameters can be evaluated with a
371:
Convert all costs and benefits into a common currency.
212:
CBA for transport investment began in the UK with the
2179:
2148:
2117:
2061:
2024:
1993:
1940:
1909:
1853:
1721:
1690:
1550:
1429:
1375:
1350:
1315:
1283:
1256:
1134:
1049:
755:
668:
540:
520:
492:
472:
230:
Department for Transport, Environment and the Regions
176:
for decisions concerning cybersecurity investments).
146:, credited with the creation of cost–benefit analysis
4666:. Vol. 1. London: Macmillan. pp. 687–690.
2330:
is used and weights are calculated according to the
2211:{\displaystyle {\mathcal {S}}\in (-\infty ,\infty )}
150:
The concept of CBA dates back to an 1848 article by
111:
perspective. Assuming an accurate CBA, changing the
6150:
6029:
5586:
5485:
5384:
5288:
5217:
5186:
5160:
5114:
5088:
3517:(7th ed.). America: McGraw-Hill. p. 138.
3492:(7th ed.). America: McGraw-Hill. p. 144.
3431:
3429:
2854:
ACM Transactions on Information and System Security
4836:
4794:
4717:
4437:Cost-benefit analysis : concepts and practice
3783:Cost-benefit analysis : concepts and practice
3673:
3662:and risk modelling in cost benefits analysis. CBA.
3352:(4th ed.). New York: Pearson/Addison-Wesley.
3188:Management Accounting: Principles and Applications
2921:
2907:The Economics of Regional Water Quality Management
2850:"The Economics of Information Security Investment"
2809:
2646:
2362: – Document providing reasoning for a project
2210:
2165:
2134:
2089:
2047:
2010:
1968:
1926:
1881:
1824:
1703:
1676:
1525:
1414:
1360:
1336:
1298:
1266:
1242:
1062:
1035:
737:
625:
526:
498:
478:
3607:Journal of Environmental Economics and Management
3889:Phaneuf, Daniel J.; Requate, Till (2016-12-24).
2416: – Benefit lost by a choice between options
1847:No constraints are imposed over the support set
1558:
4900:"Cost–Benefit Modelling for Reliability Growth"
4797:Water Supply: Economics, Technology, and Policy
4063:Ball, T. (1998). "Green Political Philosophy".
2788:Proceedings of the 2006 Cost Benefit Conference
204:health-care and emergency-management programs.
3971:. Lisa Heinzerling. New York. pp. 34–35.
3113:. Menlo Park, CA: Stanford Research Institute.
2570:"Cost-Effectiveness and Cost–Benefit Analysis"
2439: – Reviews infrastructure and development
2099:The exponential distribution is a special case
352:Define the goals and objectives of the action.
5564:
5266:
5066:
4850:Cost–Benefit Analysis: Theory and Application
4680:David, R., Ngulube, P. & Dube, A., 2013,
3215:. Heatco.ier.uni-stuttgart.de. Archived from
3174:http://www.fema.gov/government/grant/bca.shtm
2090:{\displaystyle {\mathcal {S}}\in [0,\infty )}
1969:{\displaystyle {\mathcal {S}}\in [0,\infty )}
8:
3922:. Cambridge, Massachusetts. pp. 61–62.
3465:Cost–benefit Analysis: Concepts and Practice
3094:Weisbrod, Burton A.; Hansen, W. Lee (1969).
2568:Cellini, Stephanie Riegg; Kee, James Edwin.
2323:calculating these weights. Often, a Bergson-
2247:Office of Information and Regulatory Affairs
1415:{\displaystyle \int _{\mathcal {S}}f(x)dx=1}
340:) was not available until many years later.
154:, and was formalized in subsequent works by
4908:Journal of the Operational Research Society
4663:The New Palgrave: A Dictionary of Economics
3895:. Cambridge University Press. p. 648.
3874:Adler, Matthew D.; Posner, Eric A. (2001).
3836:Wenz, P.R. (2006). "Environmental Ethics".
3705:http://regulation.huji.ac.il/papers/jp5.pdf
2808:Guess, George M.; Farnham, Paul G. (2000).
5571:
5557:
5549:
5273:
5259:
5251:
5073:
5059:
5051:
5038:
4468:: CS1 maint: location missing publisher (
4014:Stephen, John D.; Curran, Emma J. (2022).
3999:: CS1 maint: location missing publisher (
3950:: CS1 maint: location missing publisher (
3818:: CS1 maint: location missing publisher (
1567:
1128:- defined for continuous distributions as:
4952:"The Discipline of Cost–Benefit Analysis"
4626:https://doi.org/10.1016/j.tox.2004.06.054
4407:
4234:
4150:
4031:
3672:Cover, Thomas M.; Thomas, Joy A. (2006).
3646:. Cambridge: Cambridge University Press.
3626:
3551:. Cambridge: Cambridge University Press.
3417:
2516:
2454:There ain't no such thing as a free lunch
2181:
2180:
2178:
2149:
2147:
2119:
2118:
2116:
2063:
2062:
2060:
2026:
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2023:
1995:
1994:
1992:
1942:
1941:
1939:
1911:
1910:
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1855:
1854:
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1802:
1792:
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1771:
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1720:
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1573:
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1434:
1428:
1381:
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1374:
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1257:
1255:
1197:
1196:
1151:
1150:
1133:
1054:
1048:
1027:
1008:
997:
996:
984:
973:
972:
965:
952:
939:
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909:
908:
896:
885:
884:
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864:
851:
835:
819:
808:
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800:
793:
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769:
763:
754:
724:
708:
697:
696:
679:
667:
614:
597:
590:
577:
570:
564:
553:
541:
539:
519:
491:
471:
5503:Earth systems engineering and management
5001:Daniel J. Evans School of Public Affairs
4641:Campbell, Harry; Brown, Richard (2003).
3515:Environmental Economics: An Introduction
3513:Field, Barry C; Field, Martha K (2016).
3490:Environmental Economics: An Introduction
3488:Field, Barry C; Field, Martha K (2016).
2469:Triple bottom line cost–benefit analysis
4801:. Chicago: University of Chicago Press.
4720:The Economics of Health and Health Care
3878:. Chicago: University of Chicago Press.
3575:Public Policy Analysis: An Introduction
3061:International Journal of the Addictions
2491:
1536:where the last equality is a series of
534:) and the net present value defined as:
395:Adopt the recommended course of action.
282:'s Transportation Economics Committee.
276:California Department of Transportation
5173:International healthcare accreditation
4830:. Cambridge: Harvard University Press.
4711:. Cambridge: Harvard University Press.
4461:
3992:
3943:
3811:
3658:Ch. 9 provides a useful discussion of
2891:. Cambridge: Harvard University Press.
2649:Policy Analysis: Concepts and Practice
2630:: CS1 maint: archived copy as title (
2623:
2339:Limitations in the scope of assessment
272:Minnesota Department of Transportation
4898:Quigley, John; Walls, Lesley (2003).
4552:"Principles of Cost–Benefit Analysis"
4483:
4481:
4479:
4429:
4427:
3831:
3829:
3775:
3773:
3741:
3739:
2942:(1967). "Conservation Reconsidered".
2726:. New York: Oxford University Press.
2263:These criticisms continued under the
7:
5235:Incremental cost-effectiveness ratio
5194:Incremental cost-effectiveness ratio
4066:Routledge encyclopedia of philosophy
3191:. SAGE Publications. pp. 278–.
2920:Clawson, M.; Knetsch, J. L. (1966).
2505:SA Journal of Information Management
2301:can address some of these concerns.
2048:{\displaystyle \mathbb {E} (\log X)}
646:Methods for choosing a discount rate
328:, and regulate workers' exposure to
5152:Routine health outcomes measurement
2226:is the maximum entropy distribution
738:{\displaystyle r=r_{f}+\beta \left}
228:(NATA) was later introduced by the
6127:Microfoundations of macroeconomics
5321:Environmental full-cost accounting
5225:Clinical Quality Management System
4747:. London and New York: Routledge.
2781:"History of Benefit–Cost Analysis"
2305:Discounting and future generations
2202:
2196:
2081:
1960:
1882:{\displaystyle {\mathcal {S}}\in }
565:
25:
5028:Engineering Risk-Benefit Analysis
4108:. Carneades.org. pp. 30–31.
3109:Moll, K. S.; et al. (1975).
2928:. Baltimore: Johns Hopkins Press.
2909:. Baltimore: Johns Hopkins Press.
2401: – English idiomatic proverb
201:National Environmental Policy Act
6200:
6199:
6188:
5437:Extended producer responsibility
4396:Journal of Economic Perspectives
4390:Persky, Joseph (November 2001).
2534:"The Case for Investor Ordering"
2368: – United States legal term
262:. Guides are available from the
234:environmental impact assessments
5331:Environmental management system
5326:Environmental impact assessment
4258:Aldred, Jonathan (2009-12-01).
3375:Journal of Transport and Health
2924:Economics of Outdoor Recreation
2812:Cases in Public Policy Analysis
2645:Weimer, D.; Vining, A. (2005).
2166:{\displaystyle {\text{Var}}(X)}
2135:{\displaystyle \mathbb {E} (X)}
2011:{\displaystyle \mathbb {E} (X)}
1927:{\displaystyle \mathbb {E} (X)}
1825:{\displaystyle f(x)=\exp \left}
1495:
385:of actions under consideration.
268:Federal Aviation Administration
54:CBA has two main applications:
5023:Intro to Cost–Benefit Analysis
4645:. Cambridge University Press.
4369:10.1016/j.ecolecon.2018.04.021
4209:Dennig, Francis (2018-11-01).
3752:. Carneades.org. p. 320.
3676:Elements of Information Theory
3436:Ackerman; et al. (2005).
3406:Procedia Economics and Finance
2974:Quarterly Journal of Economics
2751:. Princeton University Press.
2399:Have one's cake and eat it too
2205:
2190:
2160:
2154:
2129:
2123:
2084:
2072:
2042:
2030:
2005:
1999:
1963:
1951:
1921:
1915:
1876:
1864:
1814:
1808:
1731:
1725:
1470:
1464:
1458:
1452:
1397:
1391:
1361:{\displaystyle {\mathcal {S}}}
1325:
1319:
1293:
1287:
1267:{\displaystyle {\mathcal {S}}}
1231:
1225:
1213:
1207:
1178:
1172:
1144:
1138:
1014:
1001:
990:
977:
926:
913:
902:
889:
825:
812:
714:
701:
611:
598:
264:Federal Highway Administration
142:French engineer and economist
89:, fiscal impact analysis, and
1:
6247:Project management techniques
5230:Disability-adjusted life year
5017:Transportation Research Board
4921:10.1057/palgrave.jors.2601633
4690:Readings in Welfare Economics
4529:10.1016/S0047-2727(96)01610-6
4434:Boardman, Anthony E. (2018).
4133:Lind, Robert C (1995-04-01).
4033:10.1136/medethics-2020-107103
3780:Boardman, Anthony E. (2018).
3619:10.1016/S0095-0696(02)00031-1
3419:10.1016/S2212-5671(15)00195-1
280:Transportation Research Board
4993:Benefit–Cost Analysis Center
4152:10.1016/0301-4215(95)90162-Z
2465: – Situational decision
2427: – Concept in economics
2233:CBA under US administrations
1704:{\displaystyle \lambda _{i}}
1276:probability density function
1122:principle of maximum entropy
1115:Principle of maximum entropy
1109:Principle of maximum entropy
6072:Civil engineering economics
6057:Statistical decision theory
5697:Income elasticity of demand
5346:Integrated chain management
5199:Cost-effectiveness analysis
4852:. Thousand Oaks, CA: Sage.
4692:. London: Allen and Unwin.
4517:Journal of Public Economics
3919:The cost-benefit revolution
2532:Hirst, Scott (2018-07-01).
1344:, with equality outside of
660:capital asset pricing model
654:model to find the required
446:to humans (such as air and
437:quality-adjusted life years
311:cost-effectiveness analysis
91:social return on investment
67:cost-effectiveness analysis
6273:
5707:Price elasticity of supply
5702:Price elasticity of demand
5692:Cross elasticity of demand
5412:Eco-industrial development
5240:Quality-adjusted life year
5204:Cost-minimization analysis
5132:Independent medical review
4835:McKean, Roland N. (1958).
4793:Hirshleifer, Jack (1960).
3916:Sunstein, Cass R. (2018).
3839:Encyclopedia of philosophy
3018:Journal of Human Resources
2479:Uncertainty quantification
1337:{\displaystyle f(x)\geq 0}
1112:
1063:{\displaystyle \beta _{i}}
6183:
5048:
5043:Links to related articles
4305:Rendall, Matthew (2019).
4276:10.1080/13563460903288221
4236:10.1007/s10584-017-2047-4
4188:10.1017/S0266267117000049
4020:Journal of Medical Ethics
3573:Dunn, William N. (2009).
3446:Administrative Law Review
3387:10.1016/j.jth.2015.08.003
3073:10.3109/10826089409047385
2674:Pamela, Misuraca (2014).
2555:October 16, 2008, at the
2433: – Term in economics
2387:Efficient contract theory
355:List alternative actions.
249:Sixth Framework Programme
226:New Approach to Appraisal
208:Transportation investment
167:Flood Control Act of 1939
37:), sometimes also called
5763:Income–consumption curve
5513:Ecological modernization
5422:Ecological modernization
5361:Life-cycle cost analysis
5147:Health services research
5142:Health impact assessment
4997:University of Washington
4957:Journal of Legal Studies
4870:Journal of Legal Studies
4765:Journal of Legal Studies
4176:Economics and Philosophy
3965:Ackerman, Frank (2004).
3463:Boardman, N. E. (2006).
3348:Phelps, Charles (2009).
2945:American Economic Review
2681:. The MITRE Corporation.
2437:Social impact assessment
2393:Guns versus butter model
1898:Exponential distribution
1274:is the support set of a
1072:arbitrage pricing theory
238:Department for Transport
87:economic impact analysis
6097:Industrial organization
5528:Sustainable development
5518:Environmental economics
5457:Precautionary principle
5452:Polluter pays principle
5397:Cradle-to-cradle design
5115:Health care evaluations
5096:Evidence-based medicine
4848:Nas, Tevfik F. (1996).
4707:Eckstein, Otto (1958).
4550:Boadway, Robin (2006).
3721:govinfo.library.unt.edu
2887:Eckstein, Otto (1958).
2518:10.4102/sajim.v15i2.540
2420:Return on time invested
2328:social welfare function
128:Kaldor–Hicks efficiency
5498:Design for environment
5366:Material flow analysis
5168:Hospital accreditation
3598:Newell, R. G. (2003).
2747:Sandmo, Agnar (2011).
2366:Calculus of negligence
2223:lognormal distribution
2212:
2167:
2136:
2091:
2049:
2012:
1970:
1928:
1883:
1826:
1787:
1705:
1678:
1639:
1527:
1416:
1362:
1338:
1300:
1268:
1244:
1064:
1037:
739:
636:hyperbolic discounting
627:
569:
528:
500:
480:
147:
18:Cost-benefits analysis
6067:Engineering economics
5662:Cost–benefit analysis
5442:Industrial metabolism
5356:Life-cycle assessment
5301:Cost–benefit analysis
5006:Benefit–Cost Analysis
4950:Sen, Amartya (2000).
4264:New Political Economy
3577:. New York: Longman.
3213:"HEATCO project site"
2866:10.1145/581271.581274
2269:Executive Order 12866
2243:Executive Order 12291
2213:
2173:over the support set
2168:
2137:
2092:
2055:over the support set
2050:
2013:
1971:
1934:over the support set
1929:
1884:
1827:
1767:
1706:
1679:
1619:
1528:
1417:
1363:
1339:
1301:
1269:
1245:
1065:
1038:
740:
640:equity premium puzzle
628:
549:
529:
501:
481:
421:willingness to accept
338:particulate pollution
296:cost–utility analysis
141:
83:risk–benefit analysis
79:cost–utility analysis
39:benefit–cost analysis
31:Cost–benefit analysis
5884:Price discrimination
5778:Intertemporal choice
5508:Ecological economics
5447:Industrial symbiosis
5427:Efficient energy use
5376:Stakeholder analysis
5316:Ecological footprint
5127:Clinical peer review
4743:Ferrara, A. (2010).
4556:Public Policy Review
4409:10.1257/jep.15.4.199
4357:Ecological Economics
3660:sensitivity analysis
2474:True cost accounting
2381:Economic forecasting
2299:progressive taxation
2177:
2146:
2115:
2059:
2022:
1991:
1938:
1907:
1851:
1842:Uniform distribution
1719:
1713:Lagrange multipliers
1688:
1548:
1427:
1373:
1348:
1313:
1299:{\displaystyle f(x)}
1281:
1254:
1132:
1099:sensitivity analysis
1078:Risk and uncertainty
1047:
753:
666:
538:
518:
490:
470:
458:Time and discounting
429:revealed preferences
413:total economic value
390:sensitivity analysis
278:(Caltrans), and the
6195:Business portal
6132:Operations research
5959:Substitution effect
5417:Eco-industrial park
5137:Health care ratings
5089:Concepts of quality
5082:Health care quality
4227:2018ClCh..151...43D
2842:Gordon, Lawrence A.
2716:Wiener, Jonathan B.
2106:Normal distribution
464:time value of money
71:time value of money
6242:Evaluation methods
5773:Indifference curve
5741:Goods and services
5682:Economies of scope
5677:Economies of scale
5493:Cleaner production
5477:Waste valorization
5472:Waste minimisation
5341:Input–output model
5282:Industrial ecology
5209:Cost per procedure
5187:Costs and benefits
5032:MIT OpenCourseWare
5011:2022-01-18 at the
4843:. New York: Wiley.
4488:Carneades (2022).
4102:Carneades (2022).
3746:Carneades (2022).
3313:2009-08-13 at the
3282:2012-01-12 at the
3253:2013-12-21 at the
3160:2012-07-20 at the
3141:2014-02-01 at the
2720:Revesz, Richard L.
2443:Statistical murder
2332:willingness-to-pay
2208:
2163:
2132:
2087:
2045:
2008:
1982:Gamma distribution
1966:
1924:
1879:
1834:exponential family
1822:
1701:
1674:
1566:
1523:
1412:
1358:
1334:
1296:
1264:
1240:
1103:Monte Carlo method
1084:probability theory
1060:
1033:
1032:
1025:
944:
937:
856:
849:
785:
778:
735:
623:
524:
496:
476:
444:ecosystem services
424:on their welfare.
417:willingness to pay
218:London Underground
163:Corps of Engineers
148:
65:CBA is related to
6257:Welfare economics
6237:Decision analysis
6219:
6218:
6213:
6212:
6175:Political economy
5974:Supply and demand
5854:Pareto efficiency
5546:
5545:
5402:Dematerialization
5296:Agent-based model
5248:
5247:
5106:Medical guideline
5101:Medical consensus
4915:(12): 1234–1241.
4859:978-0-8039-7133-2
4754:978-0-415-56821-0
4735:978-0-13-227942-0
4699:978-0-04-338038-3
4673:978-0-333-37235-7
4652:978-0-521-82146-9
4501:979-8-98-612861-0
4494:. Carneades.org.
4447:978-1-108-41599-6
4115:979-8-98-612861-0
3929:978-0-262-03814-0
3793:978-1-108-41599-6
3759:979-8-98-612861-0
3653:978-0-521-52898-6
3584:978-0-13-615554-6
3558:978-0-521-52898-6
3524:978-0-07-802189-3
3499:978-0-07-802189-3
3474:978-0-13-143583-4
3359:978-0-321-59457-0
3198:978-1-84787-711-6
2848:(November 2002).
2827:978-0-87840-768-2
2733:978-0-199-93438-6
2660:978-0-13-183001-1
2408:Law and economics
2152:
1557:
1030:
966:
964:
942:
878:
876:
854:
801:
799:
783:
764:
762:
747:Fama-French model
621:
544:
527:{\displaystyle r}
499:{\displaystyle B}
479:{\displaystyle C}
383:net present value
174:Gordon–Loeb model
117:Pareto efficiency
93:(SROI) analysis.
75:net present value
16:(Redirected from
6264:
6203:
6202:
6193:
6192:
5935:Returns to scale
5793:Market structure
5573:
5566:
5559:
5550:
5538:Urban metabolism
5392:Circular economy
5275:
5268:
5261:
5252:
5075:
5068:
5061:
5052:
5039:
4981:
4946:
4944:
4943:
4937:
4931:. Archived from
4904:
4894:
4877:(S2): 971–1003.
4863:
4844:
4842:
4831:
4802:
4800:
4789:
4758:
4739:
4723:
4712:
4703:
4677:
4656:
4628:
4622:
4616:
4613:
4607:
4606:
4570:
4564:
4563:
4547:
4541:
4540:
4512:
4506:
4505:
4485:
4474:
4473:
4467:
4459:
4431:
4422:
4421:
4411:
4387:
4381:
4380:
4352:
4346:
4341:
4335:
4334:
4302:
4296:
4295:
4255:
4249:
4248:
4238:
4206:
4200:
4199:
4171:
4165:
4164:
4154:
4130:
4124:
4123:
4099:
4093:
4092:
4060:
4054:
4053:
4035:
4011:
4005:
4004:
3998:
3990:
3962:
3956:
3955:
3949:
3941:
3913:
3907:
3906:
3886:
3880:
3879:
3871:
3865:
3864:
3833:
3824:
3823:
3817:
3809:
3777:
3768:
3767:
3743:
3734:
3731:
3725:
3724:
3713:
3707:
3702:
3696:
3695:
3679:
3669:
3663:
3657:
3639:
3633:
3632:
3630:
3604:
3595:
3589:
3588:
3570:
3564:
3562:
3544:
3538:
3535:
3529:
3528:
3510:
3504:
3503:
3485:
3479:
3478:
3460:
3454:
3453:
3433:
3424:
3423:
3421:
3397:
3391:
3390:
3370:
3364:
3363:
3350:Health Economics
3345:
3339:
3334:
3328:
3323:
3317:
3305:
3299:
3292:
3286:
3274:
3268:
3263:
3257:
3245:
3239:
3234:
3228:
3227:
3225:
3224:
3209:
3203:
3202:
3182:
3176:
3170:
3164:
3151:
3145:
3132:
3126:
3121:
3115:
3114:
3106:
3100:
3099:
3091:
3085:
3084:
3056:
3050:
3049:
3013:
3007:
3006:
2968:
2962:
2961:
2936:
2930:
2929:
2927:
2917:
2911:
2910:
2905:, A. V. (1964).
2899:
2893:
2892:
2884:
2878:
2877:
2838:
2832:
2831:
2815:
2805:
2799:
2798:
2796:
2790:. Archived from
2785:
2777:
2771:
2770:
2744:
2738:
2737:
2712:
2706:
2689:
2683:
2682:
2680:
2671:
2665:
2664:
2652:
2642:
2636:
2635:
2629:
2621:
2619:
2618:
2612:
2606:. Archived from
2605:
2597:
2591:
2590:
2588:
2587:
2581:
2575:. Archived from
2574:
2565:
2559:
2548:
2542:
2541:
2529:
2523:
2522:
2520:
2496:
2459:
2414:Opportunity cost
2404:
2371:
2314:Marginal utility
2282:marginal utility
2217:
2215:
2214:
2209:
2186:
2185:
2172:
2170:
2169:
2164:
2153:
2150:
2141:
2139:
2138:
2133:
2122:
2096:
2094:
2093:
2088:
2068:
2067:
2054:
2052:
2051:
2046:
2029:
2017:
2015:
2014:
2009:
1998:
1975:
1973:
1972:
1967:
1947:
1946:
1933:
1931:
1930:
1925:
1914:
1888:
1886:
1885:
1880:
1860:
1859:
1831:
1829:
1828:
1823:
1821:
1817:
1807:
1806:
1797:
1796:
1786:
1781:
1757:
1756:
1710:
1708:
1707:
1702:
1700:
1699:
1683:
1681:
1680:
1675:
1667:
1663:
1659:
1658:
1649:
1648:
1638:
1633:
1612:
1611:
1579:
1578:
1577:
1565:
1532:
1530:
1529:
1524:
1491:
1490:
1451:
1450:
1441:
1440:
1439:
1421:
1419:
1418:
1413:
1387:
1386:
1385:
1367:
1365:
1364:
1359:
1357:
1356:
1343:
1341:
1340:
1335:
1305:
1303:
1302:
1297:
1273:
1271:
1270:
1265:
1263:
1262:
1249:
1247:
1246:
1241:
1203:
1202:
1201:
1185:
1181:
1154:
1069:
1067:
1066:
1061:
1059:
1058:
1042:
1040:
1039:
1034:
1031:
1028:
1026:
1021:
1017:
1013:
1012:
1000:
989:
988:
976:
963:
962:
943:
940:
938:
933:
929:
925:
924:
912:
901:
900:
888:
875:
874:
855:
852:
850:
845:
841:
840:
839:
824:
823:
811:
798:
797:
784:
781:
779:
774:
773:
744:
742:
741:
736:
734:
730:
729:
728:
713:
712:
700:
684:
683:
656:return on equity
632:
630:
629:
624:
622:
620:
619:
618:
596:
595:
594:
582:
581:
571:
568:
563:
545:
542:
533:
531:
530:
525:
505:
503:
502:
497:
486:) and benefits (
485:
483:
482:
477:
401:OMB Circular A-4
292:health economics
255:Transport Canada
21:
6272:
6271:
6267:
6266:
6265:
6263:
6262:
6261:
6222:
6221:
6220:
6215:
6214:
6209:
6187:
6179:
6146:
6025:
5667:Deadweight loss
5604:Consumer choice
5582:
5577:
5547:
5542:
5523:Green chemistry
5481:
5467:Waste hierarchy
5380:
5284:
5279:
5249:
5244:
5213:
5182:
5156:
5110:
5084:
5079:
5044:
5013:Wayback Machine
4989:
4984:
4964:(S2): 931–952.
4949:
4941:
4939:
4935:
4902:
4897:
4866:
4860:
4847:
4834:
4822:
4792:
4772:(S2): 913–930.
4761:
4755:
4742:
4736:
4715:
4706:
4700:
4687:
4674:
4659:
4653:
4640:
4636:
4634:Further reading
4631:
4623:
4619:
4614:
4610:
4587:10.2307/2553553
4572:
4571:
4567:
4549:
4548:
4544:
4514:
4513:
4509:
4502:
4487:
4486:
4477:
4460:
4448:
4433:
4432:
4425:
4389:
4388:
4384:
4354:
4353:
4349:
4342:
4338:
4304:
4303:
4299:
4257:
4256:
4252:
4215:Climatic Change
4208:
4207:
4203:
4173:
4172:
4168:
4132:
4131:
4127:
4116:
4101:
4100:
4096:
4077:
4062:
4061:
4057:
4013:
4012:
4008:
3991:
3979:
3964:
3963:
3959:
3942:
3930:
3915:
3914:
3910:
3903:
3888:
3887:
3883:
3873:
3872:
3868:
3850:
3835:
3834:
3827:
3810:
3794:
3779:
3778:
3771:
3760:
3745:
3744:
3737:
3732:
3728:
3715:
3714:
3710:
3703:
3699:
3692:
3671:
3670:
3666:
3654:
3641:
3640:
3636:
3602:
3597:
3596:
3592:
3585:
3572:
3571:
3567:
3559:
3546:
3545:
3541:
3536:
3532:
3525:
3512:
3511:
3507:
3500:
3487:
3486:
3482:
3475:
3462:
3461:
3457:
3435:
3434:
3427:
3399:
3398:
3394:
3372:
3371:
3367:
3360:
3347:
3346:
3342:
3335:
3331:
3324:
3320:
3315:Wayback Machine
3306:
3302:
3293:
3289:
3284:Wayback Machine
3275:
3271:
3264:
3260:
3255:Wayback Machine
3246:
3242:
3235:
3231:
3222:
3220:
3211:
3210:
3206:
3199:
3184:
3183:
3179:
3171:
3167:
3162:Wayback Machine
3152:
3148:
3143:Wayback Machine
3133:
3129:
3122:
3118:
3108:
3107:
3103:
3093:
3092:
3088:
3058:
3057:
3053:
3015:
3014:
3010:
2987:10.2307/1879478
2970:
2969:
2965:
2940:Krutilla, J. V.
2938:
2937:
2933:
2919:
2918:
2914:
2901:
2900:
2896:
2886:
2885:
2881:
2846:Loeb, Martin P.
2840:
2839:
2835:
2828:
2807:
2806:
2802:
2794:
2783:
2779:
2778:
2774:
2759:
2746:
2745:
2741:
2734:
2714:
2713:
2709:
2690:
2686:
2678:
2673:
2672:
2668:
2661:
2644:
2643:
2639:
2622:
2616:
2614:
2610:
2603:
2601:"Archived copy"
2599:
2598:
2594:
2585:
2583:
2579:
2572:
2567:
2566:
2562:
2557:Wayback Machine
2549:
2545:
2531:
2530:
2526:
2498:
2497:
2493:
2489:
2484:
2457:
2402:
2369:
2350:
2341:
2316:
2307:
2290:
2277:
2235:
2175:
2174:
2144:
2143:
2113:
2112:
2111:Specified mean
2057:
2056:
2020:
2019:
1989:
1988:
1987:Specified mean
1936:
1935:
1905:
1904:
1903:Specified mean
1849:
1848:
1798:
1788:
1748:
1747:
1743:
1717:
1716:
1691:
1686:
1685:
1650:
1640:
1603:
1584:
1580:
1568:
1546:
1545:
1482:
1442:
1430:
1425:
1424:
1376:
1371:
1370:
1346:
1345:
1311:
1310:
1279:
1278:
1252:
1251:
1192:
1159:
1155:
1130:
1129:
1117:
1111:
1092:expected return
1080:
1050:
1045:
1044:
1004:
980:
971:
967:
948:
916:
892:
883:
879:
860:
831:
815:
806:
802:
789:
765:
751:
750:
720:
704:
695:
691:
675:
664:
663:
648:
610:
586:
573:
572:
536:
535:
516:
515:
488:
487:
468:
467:
460:
409:
346:
288:
210:
182:
156:Alfred Marshall
136:
28:
23:
22:
15:
12:
11:
5:
6270:
6268:
6260:
6259:
6254:
6252:Public finance
6249:
6244:
6239:
6234:
6224:
6223:
6217:
6216:
6211:
6210:
6208:
6207:
6197:
6184:
6181:
6180:
6178:
6177:
6172:
6170:Macroeconomics
6167:
6166:
6165:
6154:
6152:
6148:
6147:
6145:
6144:
6139:
6134:
6129:
6124:
6119:
6114:
6109:
6104:
6099:
6094:
6089:
6084:
6079:
6074:
6069:
6064:
6059:
6054:
6049:
6044:
6039:
6033:
6031:
6027:
6026:
6024:
6023:
6018:
6017:
6016:
6011:
6001:
5996:
5995:
5994:
5985:
5971:
5966:
5961:
5956:
5947:
5942:
5937:
5932:
5927:
5922:
5917:
5912:
5907:
5906:
5905:
5900:
5891:
5886:
5881:
5876:
5871:
5869:Price controls
5861:
5856:
5851:
5850:
5849:
5844:
5839:
5834:
5833:
5832:
5827:
5817:
5812:
5811:
5810:
5805:
5790:
5788:Market failure
5785:
5780:
5775:
5770:
5765:
5760:
5755:
5754:
5753:
5748:
5738:
5733:
5728:
5723:
5722:
5721:
5711:
5710:
5709:
5704:
5699:
5694:
5684:
5679:
5674:
5669:
5664:
5659:
5658:
5657:
5652:
5647:
5642:
5641:
5640:
5630:
5625:
5615:
5606:
5601:
5596:
5590:
5588:
5584:
5583:
5580:Microeconomics
5578:
5576:
5575:
5568:
5561:
5553:
5544:
5543:
5541:
5540:
5535:
5530:
5525:
5520:
5515:
5510:
5505:
5500:
5495:
5489:
5487:
5486:Related fields
5483:
5482:
5480:
5479:
5474:
5469:
5464:
5462:Rebound effect
5459:
5454:
5449:
5444:
5439:
5434:
5429:
5424:
5419:
5414:
5409:
5407:Eco-efficiency
5404:
5399:
5394:
5388:
5386:
5382:
5381:
5379:
5378:
5373:
5368:
5363:
5358:
5353:
5348:
5343:
5338:
5333:
5328:
5323:
5318:
5313:
5308:
5303:
5298:
5292:
5290:
5286:
5285:
5280:
5278:
5277:
5270:
5263:
5255:
5246:
5245:
5243:
5242:
5237:
5232:
5227:
5221:
5219:
5215:
5214:
5212:
5211:
5206:
5201:
5196:
5190:
5188:
5184:
5183:
5181:
5180:
5175:
5170:
5164:
5162:
5158:
5157:
5155:
5154:
5149:
5144:
5139:
5134:
5129:
5124:
5122:Clinical audit
5118:
5116:
5112:
5111:
5109:
5108:
5103:
5098:
5092:
5090:
5086:
5085:
5080:
5078:
5077:
5070:
5063:
5055:
5049:
5046:
5045:
5042:
5036:
5035:
5025:
5020:
5003:
4988:
4987:External links
4985:
4983:
4982:
4970:10.1086/468100
4947:
4895:
4883:10.1086/468102
4864:
4858:
4845:
4832:
4826:, ed. (1962).
4820:
4803:
4790:
4778:10.1086/468099
4759:
4753:
4740:
4734:
4713:
4704:
4698:
4685:
4678:
4672:
4657:
4651:
4637:
4635:
4632:
4630:
4629:
4617:
4608:
4581:(173): 81–88.
4565:
4542:
4523:(1): 117–123.
4507:
4500:
4475:
4446:
4423:
4402:(4): 199–208.
4382:
4347:
4336:
4323:10.1086/701481
4317:(3): 441–463.
4297:
4270:(4): 469–488.
4250:
4201:
4182:(3): 337–365.
4166:
4145:(4): 379–389.
4125:
4114:
4094:
4075:
4055:
4026:(9): 643–650.
4006:
3977:
3957:
3928:
3908:
3901:
3881:
3866:
3848:
3825:
3792:
3769:
3758:
3735:
3726:
3708:
3697:
3690:
3664:
3652:
3634:
3590:
3583:
3565:
3557:
3539:
3530:
3523:
3505:
3498:
3480:
3473:
3455:
3425:
3392:
3381:(4): 549–562.
3365:
3358:
3340:
3329:
3318:
3300:
3287:
3269:
3258:
3240:
3229:
3204:
3197:
3177:
3165:
3146:
3127:
3116:
3101:
3086:
3067:(3): 339–359.
3051:
3030:10.2307/145235
3024:(4): 523–548.
3008:
2981:(3): 471–477.
2963:
2952:(4): 777–786.
2931:
2912:
2894:
2879:
2860:(4): 438–457.
2833:
2826:
2800:
2797:on 2006-06-16.
2772:
2757:
2739:
2732:
2707:
2684:
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2007:
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1997:
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1962:
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1289:
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1188:
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1113:Main article:
1110:
1107:
1079:
1076:
1057:
1053:
1024:
1020:
1016:
1011:
1007:
1003:
999:
995:
992:
987:
983:
979:
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970:
961:
958:
955:
951:
947:
936:
932:
928:
923:
919:
915:
911:
907:
904:
899:
895:
891:
887:
882:
873:
870:
867:
863:
859:
848:
844:
838:
834:
830:
827:
822:
818:
814:
810:
805:
796:
792:
788:
782:Risk-Free Rate
777:
772:
768:
761:
758:
733:
727:
723:
719:
716:
711:
707:
703:
699:
694:
690:
687:
682:
678:
674:
671:
647:
644:
617:
613:
609:
606:
603:
600:
593:
589:
585:
580:
576:
567:
562:
559:
556:
552:
548:
523:
510:amount with a
495:
475:
459:
456:
408:
405:
397:
396:
393:
386:
381:Calculate the
379:
372:
369:
366:
363:
356:
353:
345:
342:
330:vinyl chloride
326:Colorado River
287:
284:
245:European Union
209:
206:
190:water-resource
181:
178:
135:
132:
63:
62:
59:
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
6269:
6258:
6255:
6253:
6250:
6248:
6245:
6243:
6240:
6238:
6235:
6233:
6230:
6229:
6227:
6206:
6198:
6196:
6191:
6186:
6185:
6182:
6176:
6173:
6171:
6168:
6164:
6161:
6160:
6159:
6156:
6155:
6153:
6149:
6143:
6140:
6138:
6135:
6133:
6130:
6128:
6125:
6123:
6120:
6118:
6115:
6113:
6110:
6108:
6105:
6103:
6102:Institutional
6100:
6098:
6095:
6093:
6090:
6088:
6085:
6083:
6080:
6078:
6075:
6073:
6070:
6068:
6065:
6063:
6060:
6058:
6055:
6053:
6050:
6048:
6047:Computational
6045:
6043:
6040:
6038:
6035:
6034:
6032:
6028:
6022:
6019:
6015:
6012:
6010:
6007:
6006:
6005:
6002:
6000:
5997:
5993:
5992:Law of supply
5989:
5986:
5984:
5983:Law of demand
5980:
5977:
5976:
5975:
5972:
5970:
5969:Social choice
5967:
5965:
5962:
5960:
5957:
5955:
5954:Excess supply
5951:
5948:
5946:
5943:
5941:
5940:Risk aversion
5938:
5936:
5933:
5931:
5928:
5926:
5923:
5921:
5918:
5916:
5913:
5911:
5908:
5904:
5901:
5899:
5895:
5892:
5890:
5887:
5885:
5882:
5880:
5877:
5875:
5874:Price ceiling
5872:
5870:
5867:
5866:
5865:
5862:
5860:
5857:
5855:
5852:
5848:
5845:
5843:
5840:
5838:
5835:
5831:
5830:Complementary
5828:
5826:
5823:
5822:
5821:
5818:
5816:
5813:
5809:
5806:
5804:
5801:
5800:
5799:
5796:
5795:
5794:
5791:
5789:
5786:
5784:
5781:
5779:
5776:
5774:
5771:
5769:
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5761:
5759:
5756:
5752:
5749:
5747:
5744:
5743:
5742:
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5734:
5732:
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5727:
5724:
5720:
5717:
5716:
5715:
5712:
5708:
5705:
5703:
5700:
5698:
5695:
5693:
5690:
5689:
5688:
5685:
5683:
5680:
5678:
5675:
5673:
5670:
5668:
5665:
5663:
5660:
5656:
5653:
5651:
5648:
5646:
5643:
5639:
5636:
5635:
5634:
5631:
5629:
5626:
5624:
5621:
5620:
5619:
5616:
5614:
5613:non-convexity
5610:
5607:
5605:
5602:
5600:
5597:
5595:
5592:
5591:
5589:
5585:
5581:
5574:
5569:
5567:
5562:
5560:
5555:
5554:
5551:
5539:
5536:
5534:
5533:Urban ecology
5531:
5529:
5526:
5524:
5521:
5519:
5516:
5514:
5511:
5509:
5506:
5504:
5501:
5499:
5496:
5494:
5491:
5490:
5488:
5484:
5478:
5475:
5473:
5470:
5468:
5465:
5463:
5460:
5458:
5455:
5453:
5450:
5448:
5445:
5443:
5440:
5438:
5435:
5433:
5430:
5428:
5425:
5423:
5420:
5418:
5415:
5413:
5410:
5408:
5405:
5403:
5400:
5398:
5395:
5393:
5390:
5389:
5387:
5383:
5377:
5374:
5372:
5369:
5367:
5364:
5362:
5359:
5357:
5354:
5352:
5349:
5347:
5344:
5342:
5339:
5337:
5334:
5332:
5329:
5327:
5324:
5322:
5319:
5317:
5314:
5312:
5309:
5307:
5304:
5302:
5299:
5297:
5294:
5293:
5291:
5287:
5283:
5276:
5271:
5269:
5264:
5262:
5257:
5256:
5253:
5241:
5238:
5236:
5233:
5231:
5228:
5226:
5223:
5222:
5220:
5216:
5210:
5207:
5205:
5202:
5200:
5197:
5195:
5192:
5191:
5189:
5185:
5179:
5176:
5174:
5171:
5169:
5166:
5165:
5163:
5161:Accreditation
5159:
5153:
5150:
5148:
5145:
5143:
5140:
5138:
5135:
5133:
5130:
5128:
5125:
5123:
5120:
5119:
5117:
5113:
5107:
5104:
5102:
5099:
5097:
5094:
5093:
5091:
5087:
5083:
5076:
5071:
5069:
5064:
5062:
5057:
5056:
5053:
5047:
5040:
5033:
5029:
5026:
5024:
5021:
5018:
5014:
5010:
5007:
5004:
5002:
4998:
4994:
4991:
4990:
4986:
4979:
4975:
4971:
4967:
4963:
4959:
4958:
4953:
4948:
4938:on 2020-10-10
4934:
4930:
4926:
4922:
4918:
4914:
4910:
4909:
4901:
4896:
4892:
4888:
4884:
4880:
4876:
4872:
4871:
4865:
4861:
4855:
4851:
4846:
4841:
4840:
4833:
4829:
4825:
4824:Maass, Arthur
4821:
4818:
4814:
4810:
4809:
4804:
4799:
4798:
4791:
4787:
4783:
4779:
4775:
4771:
4767:
4766:
4760:
4756:
4750:
4746:
4741:
4737:
4731:
4727:
4722:
4721:
4714:
4710:
4705:
4701:
4695:
4691:
4686:
4683:
4679:
4675:
4669:
4665:
4664:
4658:
4654:
4648:
4644:
4639:
4638:
4633:
4627:
4621:
4618:
4612:
4609:
4604:
4600:
4596:
4592:
4588:
4584:
4580:
4576:
4569:
4566:
4561:
4557:
4553:
4546:
4543:
4538:
4534:
4530:
4526:
4522:
4518:
4511:
4508:
4503:
4497:
4493:
4492:
4484:
4482:
4480:
4476:
4471:
4465:
4457:
4453:
4449:
4443:
4439:
4438:
4430:
4428:
4424:
4419:
4415:
4410:
4405:
4401:
4397:
4393:
4386:
4383:
4378:
4374:
4370:
4366:
4362:
4358:
4351:
4348:
4345:
4340:
4337:
4332:
4328:
4324:
4320:
4316:
4312:
4308:
4301:
4298:
4293:
4289:
4285:
4281:
4277:
4273:
4269:
4265:
4261:
4254:
4251:
4246:
4242:
4237:
4232:
4228:
4224:
4220:
4216:
4212:
4205:
4202:
4197:
4193:
4189:
4185:
4181:
4177:
4170:
4167:
4162:
4158:
4153:
4148:
4144:
4140:
4139:Energy Policy
4136:
4129:
4126:
4122:
4117:
4111:
4107:
4106:
4098:
4095:
4091:
4086:
4082:
4078:
4076:0-415-07310-3
4072:
4068:
4067:
4059:
4056:
4051:
4047:
4043:
4039:
4034:
4029:
4025:
4021:
4017:
4010:
4007:
4002:
3996:
3988:
3984:
3980:
3978:1-56584-850-0
3974:
3970:
3969:
3961:
3958:
3953:
3947:
3939:
3935:
3931:
3925:
3921:
3920:
3912:
3909:
3904:
3902:9781316867358
3898:
3894:
3893:
3885:
3882:
3877:
3870:
3867:
3863:
3859:
3855:
3851:
3849:0-02-865780-2
3845:
3841:
3840:
3832:
3830:
3826:
3821:
3815:
3808:
3803:
3799:
3795:
3789:
3785:
3784:
3776:
3774:
3770:
3766:
3761:
3755:
3751:
3750:
3742:
3740:
3736:
3730:
3727:
3722:
3718:
3712:
3709:
3706:
3701:
3698:
3693:
3687:
3683:
3678:
3677:
3668:
3665:
3661:
3655:
3649:
3645:
3638:
3635:
3629:
3624:
3620:
3616:
3612:
3608:
3601:
3594:
3591:
3586:
3580:
3576:
3569:
3566:
3560:
3554:
3550:
3543:
3540:
3534:
3531:
3526:
3520:
3516:
3509:
3506:
3501:
3495:
3491:
3484:
3481:
3476:
3470:
3466:
3459:
3456:
3451:
3447:
3443:
3442:a Good Idea?"
3441:
3432:
3430:
3426:
3420:
3415:
3411:
3407:
3403:
3396:
3393:
3388:
3384:
3380:
3376:
3369:
3366:
3361:
3355:
3351:
3344:
3341:
3338:
3333:
3330:
3327:
3322:
3319:
3316:
3312:
3309:
3304:
3301:
3298:
3296:
3291:
3288:
3285:
3281:
3278:
3273:
3270:
3267:
3262:
3259:
3256:
3252:
3249:
3244:
3241:
3237:
3233:
3230:
3219:on 2015-05-24
3218:
3214:
3208:
3205:
3200:
3194:
3190:
3189:
3181:
3178:
3175:
3169:
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3150:
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3140:
3137:
3131:
3128:
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3117:
3112:
3105:
3102:
3097:
3090:
3087:
3082:
3078:
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3070:
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3062:
3055:
3052:
3047:
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3012:
3009:
3004:
3000:
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2913:
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2904:
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2837:
2834:
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2823:
2819:
2814:
2813:
2804:
2801:
2793:
2789:
2782:
2776:
2773:
2768:
2764:
2760:
2758:9780691148427
2754:
2750:
2743:
2740:
2735:
2729:
2725:
2721:
2717:
2711:
2708:
2704:
2700:
2696:
2695:
2688:
2685:
2677:
2670:
2667:
2662:
2656:
2651:
2650:
2641:
2638:
2633:
2627:
2613:on 2012-11-02
2609:
2602:
2596:
2593:
2582:on 2013-05-26
2578:
2571:
2564:
2561:
2558:
2554:
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2528:
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2502:
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6077:Evolutionary
6062:Econometrics
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5894:Price system
5889:Price signal
5803:Monopolistic
5672:Distribution
5661:
5587:Major topics
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2431:Shadow price
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1029:Value Factor
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360:stakeholders
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322:Grand Canyon
315:
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194:option value
183:
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152:Jules Dupuit
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144:Jules Dupuit
121:
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6087:Game theory
6052:Development
5999:Uncertainty
5879:Price floor
5859:Preferences
5798:Competition
5768:Information
5731:Externality
5714:Equilibrium
5655:Transaction
5633:Opportunity
5594:Aggregation
4363:: 217–228.
3412:: 422–430.
941:Size Factor
853:Market Risk
214:M1 motorway
109:utilitarian
6226:Categories
6117:Managerial
6037:Behavioral
5910:Production
5847:Oligopsony
5687:Elasticity
5599:Budget set
5371:MET Matrix
4942:2019-08-01
4817:0865717044
4562:(1): 1–44.
4456:1014011028
3938:1022976976
3802:1014011028
3691:0471241954
3628:10161/9133
3223:2013-04-21
3098:. Markham.
2703:0865717044
2617:2012-09-20
2586:2012-09-24
2540:(2017–13).
2487:References
2448:Tax choice
2275:Criticisms
1684:where the
1542:functional
1043:where the
407:Evaluation
113:status quo
100:status quo
6158:Economics
6030:Subfields
5925:Rationing
5842:Oligopoly
5837:Monopsony
5825:Bilateral
5758:Household
5609:Convexity
5351:ISO 14000
4978:106398171
4891:153426905
4819:, 464 pp.
4786:153355929
4595:0013-0427
4575:Economica
4537:0047-2727
4464:cite book
4418:0895-3309
4377:0921-8009
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4292:154411163
4284:1356-3467
4245:1573-1480
4196:157388595
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3946:cite book
3814:cite book
3765:measured.
3003:154873105
2767:799499179
2705:, 464 pp.
2463:Trade-off
2325:Samuelson
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551:∑
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5950:Shortage
5945:Scarcity
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5726:Exchange
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5385:Concepts
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5009:Archived
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388:Perform
286:Accuracy
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5964:Surplus
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1126:entropy
1120:of the
662:(CAPM):
344:Process
324:on the
134:History
107:from a
105:welfare
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1183:]
1179:)
1176:X
1173:(
1170:f
1157:[
1152:E
1148:=
1145:)
1142:X
1139:(
1136:H
1056:i
1019:]
1015:)
1010:L
1006:r
1002:(
998:E
991:)
986:H
982:r
978:(
974:E
969:[
960:L
957:M
954:H
946:+
931:]
927:)
922:B
918:r
914:(
910:E
903:)
898:S
894:r
890:(
886:E
881:[
872:B
869:M
866:S
858:+
843:]
837:f
833:r
826:)
821:M
817:r
813:(
809:E
804:[
795:M
787:+
771:f
767:r
760:=
757:r
749::
732:]
726:f
722:r
715:)
710:M
706:r
702:(
698:E
693:[
686:+
681:f
677:r
673:=
670:r
616:t
612:)
608:r
605:+
602:1
599:(
592:t
588:C
579:t
575:B
561:0
558:=
555:t
547:=
522:r
514:(
494:B
474:C
392:.
378:.
362:.
33:(
20:)
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