Abstract
Economic theory provides a textbook ideal for how to conduct efficiency analysis that determines optimal resource allocation. The real world is not, however, an ideal place. This article suggests that common sense should be allowed to temper zealous commitment to textbook ideals. The spirit and the process of economic evaluation may be as important as the “final answer” expressed as a summary statistic.
Notes
There is even a Journal of Organizational and End User Computing; see Grossman (1997) for an overview of the vision.
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Caulkins, J.P. Commentary on Crowley et al.’s Research Priorities for Economic Analysis of Prevention. Prev Sci 15, 799–802 (2014). https://doi.org/10.1007/s11121-013-0440-4
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DOI: https://doi.org/10.1007/s11121-013-0440-4