Cost-Benefit Analysis

ShouldMalaysiabuildanewsteelmill,orNewYorkCityanurbanmotorway?Shouldhighereducationexpand,orwatersuppliesbeimproved?Thesearetypicalquestionstowhichcost-benefitanalysis,thekeyeconomictoolforanalyzingproblemsofsocialchoicecancontributeto,aswellasprovidingausefulvehicleforunderstandingthepracticalvalueofwelfareeconomics.Thisinvaluabletextcoversthemainproblemsthatariseinatypicalcost-benefitexercise.Cost-benefitanalysisisusedeverywhere,butitstechniquesareparticularlyprominentinfieldswherethereissomekindofethicaldimension.Forthisedition,E.J.MishanhasbeenjoinedbyEustonQuah,toexplorenewthemes,includingtheimpactofuncertaintyoncost-benefitanalysisandtointroduceahostofnewandup-to-datecasestudies.