By Anthony Boardman
A realistic advent to cost-benefit research via challenge fixing.
This authoritative, market-leading textual content is understood for its constant software of a nine-step framework for accomplishing or reading a cost-benefit research.
This version contains a variety of chapters which were revised and reorganized to make the fabric clearer and extra accessible.
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Extra info for Cost-Benefit Analysis (4th Edition)
Niskanen, “Bureaucrats and Politicians,” Journal of Law and Economics 18(3) 1975, 617–643; and André 18. 19. 20. 21. 22. 23. 24. , The BudgetMaximizing Bureaucrat: Appraisals and Evidence (Pittsburgh, PA: University of Pittsburgh Press, 1991). For various reasons, senior spenders may be more interested in the discretionary budget or “budget shaping” than in budget maximizing; see Patrick Dunleavy, Democracy, Bureaucracy and Public Choice (Englewood Cliffs, NJ: Prentice Hall, 1992). They may, therefore, be willing to support projects that involve considerable “contracting out” and other activities that may not be budget maximizing per se.
Despite the little explicit demand for ex post analyses, resource allocation decisions often draw heavily on these analyses. , educational programs for low-income preschool children) and his intention to increase funding and expand the scope of such programs. S. 27 As public officials face citizen resistance to raising taxes or pressure to reduce taxes, they are increasingly forced to ensure that government works more efficiently and effectively. In practice, this provides an impetus toward the increased use of CBA and related methods.
The analyst may also be uncertain about the appropriate social discount rate and about the appropriate level of standing. Sensitivity analysis, which we discuss in Chapter 7, attempts to deal with such uncertainties. As shown in Table 1-3, the analyst performed sensitivity analysis on the standing issue by computing the NPVs from both the global perspective and the provincial perspective. There are practical limits to the amount of sensitivity analysis that is feasible. Potentially, every assumption in a CBA can be varied.