This fully updated new edition continues in the vein of its
predecessor by viewing cost-benefit analysis as applied welfare
economics, while at the same time building on the earlier framework
by extending the theory and providing further applications in each
chapter. New for this edition are analyses of theory related
applications in mental health, condom social marketing programs,
female primary education as a means of preventing HIV/AIDS and the
pricing of natural gas. Presented in an integrated manner, the
theoretical concepts are constructed around the main building
blocks of CBA, such as shadow pricing, distribution weights, the
social discount rate and the marginal cost of public funds. This
edition will cement the book's place as a major and accessible text
in the field and will be of great interest to graduate and
undergraduate students of welfare economics and microeconomic
theory, as well as government economists involved with any area of
public policy.
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