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Applied Benefit–Cost Analysis
Benefit–cost analysis reduces all of the impacts of a proposed policy change to a common unit of measurement. It is used in a wide variety of fields including agriculture, life and health, transportation and the environment.
In this single volume the editors, both leading scholars in their field, present a judicious selection of previously published papers indispensable to the study of applied benefit–cost analysis. The comprehensive collection is an essential resource to scholars, researchers and policymakers alike.
In this single volume the editors, both leading scholars in their field, present a judicious selection of previously published papers indispensable to the study of applied benefit–cost analysis. The comprehensive collection is an essential resource to scholars, researchers and policymakers alike.
More Information
Contributors
Contents
More Information
Benefit–cost analysis reduces all of the impacts of a proposed policy change to a common unit of measurement. It is used in a wide variety of fields including agriculture, life and health, transportation and the environment.
In this single volume the editors, both leading scholars in their field, present a judicious selection of previously published papers indispensable to the study of applied benefit–cost analysis. The comprehensive collection is an essential resource to scholars, researchers and policymakers alike.
In this single volume the editors, both leading scholars in their field, present a judicious selection of previously published papers indispensable to the study of applied benefit–cost analysis. The comprehensive collection is an essential resource to scholars, researchers and policymakers alike.
Contributors
35 articles, dating from 1958 to 2007
Contributors include: D. Cole, S. Farrow, R. Gray, D. Greenberg, J. Hoehn, G. Jenkins, R. Pope, V.K. Smith, A. Vining, D. Zilberman
Contributors include: D. Cole, S. Farrow, R. Gray, D. Greenberg, J. Hoehn, G. Jenkins, R. Pope, V.K. Smith, A. Vining, D. Zilberman
Contents
Contents:
Acknowledgements
Introduction Andrew Schmitz and Richard O. Zerbe
PART I: AGRICULTURE AND AGRICULTURAL POLICY
1. Zvi Griliches (1958), ‘Research Costs and Social Returns: Hybrid Corn and Related Innovations’
2. Erik Lichtenberg and David Zilberman (1986), ‘The Welfare Economics of Price Supports in U.S. Agriculture’
3. Troy G. Schmitz, Andrew Schmitz and Chris Dumas (1997), ‘Gains From Trade, Inefficiency of Government Programs, and the Net Economic Effects of Trading’
4. Andrew Schmitz, Frederick Rossi and Troy G. Schmitz (2007), ‘Agricultural Subsidies Under Decoupling’
5. Rulon Pope, Jean-Paul Chavas and Richard Just (1983), ‘Economic Welfare Evaluations for Producers under Uncertainty’
PART II: EVALUATION OF SOCIAL PROGRAMS
6. David H. Greenberg and Douglas A. Wolf (1985), ‘Is Wage Matching Worth All the Trouble?’
7. Morris S. Berman (1989), ‘Vision Care in a Juvenile Detention Facility’
8. David H. Greenberg (1997), ‘The Leisure Bias in Cost–Benefit Analyses of Employment and Training Programs’
9. Clive Belfield, Milagros Nores, Steve Barnett and Lawrence Schweinhart (2006), ‘The High/Scope Perry Preschool Program’
10. Flavio Cunha and James Heckman (2007), ‘The Economics of Human Development: The Technology of Skill Formation’
PART III: IMPLEMENTATION AND STAKEHOLDER IMPACTS
11. Glenn P. Jenkins (1999), ‘Evaluation of Stakeholder Impacts in Cost–Benefit Analysis’
12. Timothy L. McDaniels, Robin S. Gregory and Daryl Fields (1999), ‘Democratizing Risk Management: Successful Public Involvement in Local Water Management Decisions’
13. Alvin Ulrich, Hartley Furtan and Andrew Schmitz (1986), ‘Public and Private Returns from Joint Venture Research: An Example from Agriculture’
PART IV: LIFE AND HEALTH
14. Lester B. Lave (1981), ‘Conflicting Objectives in Regulating the Automobile’
15. David L. Weimer and Aidan R. Vining (1989), ‘An Illustration: Taxing Alcohol to Save Lives’
16. Gary M. Ginsberg and Don S. Silverberg (1994), ‘A Cost–Benefit Analysis of Legislation for Bicycle Safety Helmets in Israel’
17. Richard Gray and Stavroula Malla (2001), ‘The Evaluation of the Economic and External Health Benefits from Canola Research’
18. W. Kip Viscusi and Joseph E. Aldy (2003), ‘The Value of a Statistical Life: A Critical Review of Market Estimates Throughout the World’
PART V: TRANSPORTATION
19. Anthony Boardman, Aidan Vining and W.G. Waters, II (1993), ‘Costs and Benefits through Bureaucratic Lenses: Example of a Highway Project’
20. ‘What GAO Found’, in US GAO Highway and Transit Investments: Options for Improving Information on Projects’
21. Troy G. Schmitz, Tim Highmoor and Andrew Schmitz (2002), ‘Termination of the WGTA: An Examination of Factor Market Distortions, Input Subsidies and Compensation’
PART VI: ENVIRONMENT
22. Raymond J. Kopp and V. Kerry Smith (1989), ‘Benefit Estimation Goes to Court: The Case of Natural Resource Damage Assessments’
23. ‘Executive Summary’
24. S. Farrow and M. Toman (1999), ‘Using Benefit–Cost Analysis to Improve Environmental Regulation’
25. Richard T. Carson, Robert C. Mitchell, Michael Hanemann, Raymond J. Kopp, Stanley Presser and Paul A. Ruud (2003), ‘Contingent Valuation and Lost Passive Use: Damages from the Exxon Valdez Oil Spill’
PART VII: BETTER USE
26. John P. Hoehn and Alan Randall (1989), ‘Too Many Proposals Pass the Benefit Cost Test’
27. Robert W. Hahn (1998), ‘Policy Watch: Government Analysis of the Benefits and Costs of Regulation’
28. Kenneth J. Arrow, Maureen L. Cooper, George C. Eads, Robert W. Hahn, Lester B. Lave, Roger G. Noll, Paul R. Portney, Milton Russell, Richard Schmalensee, V. Kerry Smith and Robert N. Stavins (1996), ‘A Statement of Principles’
29. Matthew A. Wilson and John P. Hoehn (2006), ‘Valuing Environmental Goods and Services Using Benefit Transfer: The State-of-the Art and Science’
30. Daniel H. Cole (2007), ‘“Best Practice” Standards for Regulatory Benefit–Cost Analysis’
31. Andrew Schmitz, Charles B. Moss and Troy G. Schmitz (2007), ‘Ethanol: No Free Lunch’
PART VIII: REGULATION
32. Richard O. Zerbe, Jr. (1980), ‘The Costs and Benefits of Early Regulation of the Railroads’
33. Alvin Ulrich, William H. Furtan and Andrew Schmitz (1987), ‘The Cost of a Licensing System Regulation: An Example from Canadian Prairie Agriculture’
34. Jason K. Burnett and Robert W. Hahn (2001), ‘A Costly Benefit: Economic Analysis Does Not Support EPA’s New Arsenic Rule’
35. Richard Wilson (2001), ‘Underestimating Arsenic’s Risk: The Latest Science Supports Tighter Standards’
Name Index
Acknowledgements
Introduction Andrew Schmitz and Richard O. Zerbe
PART I: AGRICULTURE AND AGRICULTURAL POLICY
1. Zvi Griliches (1958), ‘Research Costs and Social Returns: Hybrid Corn and Related Innovations’
2. Erik Lichtenberg and David Zilberman (1986), ‘The Welfare Economics of Price Supports in U.S. Agriculture’
3. Troy G. Schmitz, Andrew Schmitz and Chris Dumas (1997), ‘Gains From Trade, Inefficiency of Government Programs, and the Net Economic Effects of Trading’
4. Andrew Schmitz, Frederick Rossi and Troy G. Schmitz (2007), ‘Agricultural Subsidies Under Decoupling’
5. Rulon Pope, Jean-Paul Chavas and Richard Just (1983), ‘Economic Welfare Evaluations for Producers under Uncertainty’
PART II: EVALUATION OF SOCIAL PROGRAMS
6. David H. Greenberg and Douglas A. Wolf (1985), ‘Is Wage Matching Worth All the Trouble?’
7. Morris S. Berman (1989), ‘Vision Care in a Juvenile Detention Facility’
8. David H. Greenberg (1997), ‘The Leisure Bias in Cost–Benefit Analyses of Employment and Training Programs’
9. Clive Belfield, Milagros Nores, Steve Barnett and Lawrence Schweinhart (2006), ‘The High/Scope Perry Preschool Program’
10. Flavio Cunha and James Heckman (2007), ‘The Economics of Human Development: The Technology of Skill Formation’
PART III: IMPLEMENTATION AND STAKEHOLDER IMPACTS
11. Glenn P. Jenkins (1999), ‘Evaluation of Stakeholder Impacts in Cost–Benefit Analysis’
12. Timothy L. McDaniels, Robin S. Gregory and Daryl Fields (1999), ‘Democratizing Risk Management: Successful Public Involvement in Local Water Management Decisions’
13. Alvin Ulrich, Hartley Furtan and Andrew Schmitz (1986), ‘Public and Private Returns from Joint Venture Research: An Example from Agriculture’
PART IV: LIFE AND HEALTH
14. Lester B. Lave (1981), ‘Conflicting Objectives in Regulating the Automobile’
15. David L. Weimer and Aidan R. Vining (1989), ‘An Illustration: Taxing Alcohol to Save Lives’
16. Gary M. Ginsberg and Don S. Silverberg (1994), ‘A Cost–Benefit Analysis of Legislation for Bicycle Safety Helmets in Israel’
17. Richard Gray and Stavroula Malla (2001), ‘The Evaluation of the Economic and External Health Benefits from Canola Research’
18. W. Kip Viscusi and Joseph E. Aldy (2003), ‘The Value of a Statistical Life: A Critical Review of Market Estimates Throughout the World’
PART V: TRANSPORTATION
19. Anthony Boardman, Aidan Vining and W.G. Waters, II (1993), ‘Costs and Benefits through Bureaucratic Lenses: Example of a Highway Project’
20. ‘What GAO Found’, in US GAO Highway and Transit Investments: Options for Improving Information on Projects’
21. Troy G. Schmitz, Tim Highmoor and Andrew Schmitz (2002), ‘Termination of the WGTA: An Examination of Factor Market Distortions, Input Subsidies and Compensation’
PART VI: ENVIRONMENT
22. Raymond J. Kopp and V. Kerry Smith (1989), ‘Benefit Estimation Goes to Court: The Case of Natural Resource Damage Assessments’
23. ‘Executive Summary’
24. S. Farrow and M. Toman (1999), ‘Using Benefit–Cost Analysis to Improve Environmental Regulation’
25. Richard T. Carson, Robert C. Mitchell, Michael Hanemann, Raymond J. Kopp, Stanley Presser and Paul A. Ruud (2003), ‘Contingent Valuation and Lost Passive Use: Damages from the Exxon Valdez Oil Spill’
PART VII: BETTER USE
26. John P. Hoehn and Alan Randall (1989), ‘Too Many Proposals Pass the Benefit Cost Test’
27. Robert W. Hahn (1998), ‘Policy Watch: Government Analysis of the Benefits and Costs of Regulation’
28. Kenneth J. Arrow, Maureen L. Cooper, George C. Eads, Robert W. Hahn, Lester B. Lave, Roger G. Noll, Paul R. Portney, Milton Russell, Richard Schmalensee, V. Kerry Smith and Robert N. Stavins (1996), ‘A Statement of Principles’
29. Matthew A. Wilson and John P. Hoehn (2006), ‘Valuing Environmental Goods and Services Using Benefit Transfer: The State-of-the Art and Science’
30. Daniel H. Cole (2007), ‘“Best Practice” Standards for Regulatory Benefit–Cost Analysis’
31. Andrew Schmitz, Charles B. Moss and Troy G. Schmitz (2007), ‘Ethanol: No Free Lunch’
PART VIII: REGULATION
32. Richard O. Zerbe, Jr. (1980), ‘The Costs and Benefits of Early Regulation of the Railroads’
33. Alvin Ulrich, William H. Furtan and Andrew Schmitz (1987), ‘The Cost of a Licensing System Regulation: An Example from Canadian Prairie Agriculture’
34. Jason K. Burnett and Robert W. Hahn (2001), ‘A Costly Benefit: Economic Analysis Does Not Support EPA’s New Arsenic Rule’
35. Richard Wilson (2001), ‘Underestimating Arsenic’s Risk: The Latest Science Supports Tighter Standards’
Name Index
