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ArticlePublication 2011Behavioral Economics and the Conduct of Benefit-Cost Analysis
Benefit-cost analysis is rooted in neoclassical welfare economics, which in its most simplified form assumes …
Benefit-cost analysis is rooted in neoclassical welfare economics, which in its most simplified form assumes that individuals act rationally and are primarily motivated by self-interest, making decisions that maximize their welfare. Behavioral economics explores the psychological aspects of decision-making and challenges some of these assumptions. This paper considers the implications of this behavioral research for predicting how individuals will respond to policy options and for valuing outcomes. The authors argue that benefit-cost analysis should focus…
Decision Analysis | Global | Policy/Regulation | Preferences/Values | Priority Setting/Ethics | Benefit-Cost Analysis | Social Determinants | Climate/Environment | Health/Medicine | Critical Thinking/Analysis -
BookPublication 2018Teaching Benefit-Cost Analysis
This book presents a series of a self-contained modules designed to be used in teaching …
This book presents a series of a self-contained modules designed to be used in teaching benefit-cost analysis, authored by a group of leading practitioners. It is intended to appeal to both undergraduate and graduate students as well as professionals interested in expanding their understanding of these issues. Each module consists of a short, accessible discussion of the topic; many include a list of additional resources as well as class exercises. Specific topics include overarching concepts…
Decision Analysis | Global | Policy/Regulation | Preferences/Values | Priority Setting/Ethics | Benefit-Cost Analysis | Social Determinants | Climate/Environment | Economics/Finance | Government/Law | Health/Medicine | Critical Thinking/Analysis
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