Abstract
Cost–benefit analysis (CBA) gives rise to a whole range of philosophical issues. The most discussed among these is the status of economic values that are assigned to assets conceived as incommensurable with money, such as a human life or the continued existence of an animal species. CBA also involves other contentious assumptions, for instance that a disadvantage affecting one person can be fully compensated for by an advantage affecting some other person. Another controversial issue is whether a CBA should cover all aspects in a decision or rather leave out certain issues (such as justice) so that they can instead be treated separately.
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Hansson, S.O. (2018). Cost–Benefit Analysis: Philosophical Issues. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2918
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DOI: https://doi.org/10.1057/978-1-349-95189-5_2918
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