Cost-Benefit Analysis (4th Edition) (The Pearson Series in Economics)
A practical introduction to cost-benefit analysis through problem solving.
This authoritative, market-leading text is known for its consistent application of a nine-step framework for conducting or interpreting a cost-benefit analysis.
This edition includes a number of chapters that have been revised and reorganized to make the material clearer and more accessible.
This book is a b----
By D. Miller "Book lover" - February 11, 2012
This is a textbook for a graduate level class I'm taking. I think the authors could have done a lot better at reducing a student's anxiety if they explained an entire equation rather than popping in numbers from seemingly out of nowhere. Perhaps those numbers are things we are supposed to have calculated from the sparse description they gave previously.
These men are undoubtedly giants in their field, but they need to make their book more accessible to people who are not econ whizzes.
If thoroughly explaining something is too much for a book this size, then perhaps there should be two books. Let's assume for a moment that they think students reading this book have already mastered some of the principles in it. If that's the case, what is the value of this book?
Come down from your ivory towers, so the rest of us can have a fighting chance to get there. I shouldn't have to Google extensively and take out an armload of other books from the library to... read more
OK book but not of much practical use
By D. Squires - August 24, 2011
Book is pretty academic and not much use for the practitioner. It is meant for the classroom. There are other books out there as good, but this one has the glossy look that students like. The later chapters are actually good for reference by a practitioner. Uneven chapter quality as expected with a number of authors each dividing up the work.
Not too overwhelming
By Dustin - February 20, 2013
I'm not sure why this book is receiving such bad reviews. Although I've taken introductory microeconomics and am aware of the concepts of welfare/surplus, cost-benefit analysis is new and somewhat intimidating territory for me. I've found this to be a fairly accessible guide. I like how, in each chapter, the authors walk you through the simplest version of a concept and then gradually relax assumptions, showing you the logic behind the rules. Unlike others, I also find the examples to be helpful in concretizing some of the abstract economic concepts, even if they are not always about real-life complicated infrastructure projects.
Not yet having attempted to apply these concepts in a professional setting, I can't say how appropriate the book is for that purpose.
My main criticism is that some potential complications (for example the discussion of the multiplier effect in the chapter on secondary markets) are discarded after insufficient consideration. I'm not sure... read more
`The author succeeds in bringing together many interesting real-life applications of CBA in various areas (including among others health, environment and transportation). The examples are well chosen ...