In this book, the authors reconceptualize cost-benefit analysis, arguing that its objective should be overall well-being rather than economic efficiency. They show why the link between preferences and well-being is more complicated than economists have thought. Satisfying a person's preference for some outcome is welfare-enhancing only if he or she is self-interested and well-informed. Also, cost-benefit analysis is not a super-procedure but simply a way to identify welfare-maximizing policies. A separate kind of analysis is required to weigh rights and equal treatment.
This book not only places cost-benefit analysis on a firmer theoretical foundation, but also has many practical implications for how government agencies should undertake cost-benefit studies.
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In this book, the authors reconceptualize cost-benefit analysis, arguing that its objective should be overall well-being rather than economic efficiency. They show why the link between preferences and well-being is more complicated than economists have thought. Satisfying a person's preference for some outcome is welfare-enhancing only if he or she is self-interested and well-informed. Also, cost-benefit analysis is not a super-procedure but simply a way to identify welfare-maximizing policies. A separate kind of analysis is required to weigh rights and equal treatment.
This book not only places cost-benefit analysis on a firmer theoretical foundation, but also has many practical implications for how government agencies should undertake cost-benefit studies.
Imprint | Harvard University Press |
Country of origin | United States |
Release date | September 2006 |
Availability | Expected to ship within 10 - 15 working days |
First published | October 2007 |
Authors | Matthew D. Adler, Eric Posner |
Dimensions | 235 x 156 x 24mm (L x W x T) |
Format | Hardcover - Cloth over boards / With printed dust jacket |
Pages | 256 |
ISBN-13 | 978-0-674-02279-9 |
Barcode | 9780674022799 |
Categories | |
LSN | 0-674-02279-3 |