Abstract
The basic idea of cost-benefit analysis is simple. To decide on the worth of a project involving public expenditure (or, more extensively, public policy) it is necessary to weigh up the advantages and disadvantages. The province of cost-benefit is usually confined to public projects because the advantages and disadvantages are defined in terms of social gains and losses. It is assumed, correctly one suspects, that most private decisions are not concerned with the wider social effects, but with the effects on profits, sales or producer status.
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© 1972 Ajit K. Dasgupta and D. W. Pearce
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Dasgupta, A.K., Pearce, D.W. (1972). Utility, Costs and Benefits. In: Cost-Benefit Analysis. Palgrave, London. https://doi.org/10.1007/978-1-349-15470-8_2
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DOI: https://doi.org/10.1007/978-1-349-15470-8_2
Publisher Name: Palgrave, London
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