The world is increasingly concerned with bridging the
developmental gap between the developed and developing countries.
With the establishment of a number of institutions for funding the
projects including the World Bank, Asian Development Bank, and many
other agencies, the need to develop mechanisms to assess
economically viable projects is more important than ever. The
Social-Cost Benefit Analysis (SCBA) is an important technique used
in formulating, appraising, and evaluating projects. It is a facet
of applied welfare economics which is increasingly being used to
identify and assess public projects in both developing and
developed countries. This volume presents a comprehensive view of
cost-benefit analysis in its theoretical and applied dimensions.
Both theory and case studies are presented. The theoretical setting
for Cost-Benefit Analysis is established by the first five
chapters-"Spatial General Equilibrium and Cost-Benefit Analysis,"
by David M. Newbery; "Optimum Growth Theory and Social Time
Preference: A Computerized Mathematical Modeling Exercise to Choose
a Social Discount Rate," by Sardar M. N. Islam; "A Theoretical
Inquiry of the Axiomatic Consistency of Distributional Weights used
in Cost-Benefit Analysis," by Giuseppe Munda; "The Output Gap:
Measurement, Related Concepts, and Policy Implications," by
Parameswar Nandakumar; and "A Methodological Comparison of
Theoretical Approaches in Dichotomous Choice Contingent Valuation,"
by John C. Whitehead. This book will be useful as a reference text
by professors and students in project appraisal classes and will be
of equal value to analysts, planners, and interested general
readers. K. Puttaswamaiah is the senior director, Planning
Department, Government of Karnataka State, India. He has written or
edited fourteen books. He is the founding editor of the Indian (now
International) Journal of Applied Economics & Econometrics.
General
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