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1 – 10 of over 2000
Book part
Publication date: 16 October 2007

Victor B. Flatt

This article posits that a more rigorous enforcement of the Constitutional Doctrine of Non-delegation would prevent many of the problems that have been identified with benefit–cost

Abstract

This article posits that a more rigorous enforcement of the Constitutional Doctrine of Non-delegation would prevent many of the problems that have been identified with benefit–cost analysis. In particular, a rigorous application would prevent administrative agencies from using benefit–cost analysis as a screen to make policy decisions that the agency otherwise wishes to occur. Though the US Courts might have some difficulty in enforcing this notion, it is possible to do, and would greatly help the benefit–cost process, by regulating it to its proper place in an administrative system.

Details

Research in Law and Economics
Type: Book
ISBN: 978-1-84950-455-3

Book part
Publication date: 16 October 2007

Lawrence H. Goulder

Benefit–cost analysis took root in the U.S. at the federal level in the 1930s with the use of the method by the Army Corps of Engineers. It now is used widely by government…

Abstract

Benefit–cost analysis took root in the U.S. at the federal level in the 1930s with the use of the method by the Army Corps of Engineers. It now is used widely by government agencies and research organizations. The practice has long been controversial, and it remains so. Some critics find the weaknesses of benefit–cost analysis to be so severe as to warrant abandoning its practice.

Details

Research in Law and Economics
Type: Book
ISBN: 978-1-84950-455-3

Abstract

Details

Flexible Urban Transportation
Type: Book
ISBN: 978-0-08-050656-2

Book part
Publication date: 16 October 2007

V. Kerry Smith and Jared C. Carbone

This paper demonstrates the importance of general equilibrium (GE) feedback effects inside and outside markets for the measurement of the efficiency costs of taxes in a distorted…

Abstract

This paper demonstrates the importance of general equilibrium (GE) feedback effects inside and outside markets for the measurement of the efficiency costs of taxes in a distorted economy. Our specific focus is on the changes in environmental amenities that can result from pollution externalities generated from production activities. Even when amenities are under three percent of virtual income, the error in the GE approximations of the welfare effects of new taxes with pre-existing distortions can increase threefold. The nature of the link between the source of the external effects influencing amenities and the changes in amenity services can alter the conclusions one would make about the merits of an intervention based on benefit–cost analyses.

Details

Research in Law and Economics
Type: Book
ISBN: 978-1-84950-455-3

Article
Publication date: 6 March 2017

Sang Kyum Kim

The purpose of this paper is to examine the applicability of the alternative way of discounting, such as the hyperbolic discount method, for the economic feasibility test on Free…

Abstract

Purpose

The purpose of this paper is to examine the applicability of the alternative way of discounting, such as the hyperbolic discount method, for the economic feasibility test on Free Trade Zone development project that needs intergenerational analysis.

Design/methodology/approach

To analyze the effects of applying alternative discounting method in the cost-benefit analysis, this paper uses the hyperbolic discount method and HM-Treasury’s method (Britain), as well as the traditional exponential discount method. Also, this study uses benefit and cost data from the actual feasibility test of the Free Trade Zone development project in Korea, to obtain better policy implication.

Findings

For the case of long-term analysis, using the exponential discounting method in the benefit-cost analysis could not give us balanced analytic results, because it discounts too much on future generation’s benefits. In contrast, if we use the hyperbolic discounting method, we could obtain better balanced results since it can control the generational effects. This paper also finds that for the results to be valid, the analysis period must be expanded long enough (a minimum of 100 years).

Originality/value

The major findings of this paper confirm the results of previous studies regarding long-term benefit-cost analysis. Also, the result of this paper is properly compatible with the findings of behavioral economics, such as the time inconsistency of preferences. However, no research has been done with the proper length of analytic periods for using hyperbolic discounting yet. To examine this matter, this paper performs benefit-cost analysis with actual data from the feasibility studies in Korea. To the best of the author’s knowledge, this is the first study to find the proper length of analytic periods that can be compatible with the hyperbolic discount method.

Details

Journal of Korea Trade, vol. 21 no. 1
Type: Research Article
ISSN: 1229-828X

Keywords

Book part
Publication date: 27 August 2014

Damian Tago, Henrik Andersson and Nicolas Treich

This study contributes to the understanding of the health effects of pesticides exposure and of how pesticides have been and should be regulated.

Abstract

Purpose

This study contributes to the understanding of the health effects of pesticides exposure and of how pesticides have been and should be regulated.

Design/methodology/approach

This study presents literature reviews for the period 2000–2013 on (i) the health effects of pesticides and on (ii) preference valuation of health risks related to pesticides, as well as a discussion of the role of benefit-cost analysis applied to pesticide regulatory measures.

Findings

This study indicates that the health literature has focused on individuals with direct exposure to pesticides, i.e. farmers, while the literature on preference valuation has focused on those with indirect exposure, i.e. consumers. The discussion highlights the need to clarify the rationale for regulating pesticides, the role of risk perceptions in benefit-cost analysis, and the importance of inter-disciplinary research in this area.

Originality/value

This study relates findings of different disciplines (health, economics, public policy) regarding pesticides, and identifies gaps for future research.

Details

Preference Measurement in Health
Type: Book
ISBN: 978-1-78441-029-2

Keywords

Abstract

Details

Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

Article
Publication date: 1 November 2005

Svanhild Aabø

The paper reports from a valuation study of the Norwegian public libraries, aiming to provide a better understanding of their total value, both use and non‐use value, as viewed by…

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Abstract

Purpose

The paper reports from a valuation study of the Norwegian public libraries, aiming to provide a better understanding of their total value, both use and non‐use value, as viewed by the population. An objective was to explore whether or not the citizens found that their benefits outweighed the costs to provide them.

Design/methodology/approach

The study applies the contingent valuation method, developed in economics to valuate non‐market goods. Contingent valuation is based on representative questionnaire surveys and has been used to valuate several cultural goods, including a few library valuation studies.

Findings

The empirical data based on a representative population sample demonstrates that the value of the Norwegian public libraries decidedly outweigh their costs. Elicitation of the population's awareness of property rights to their local library showed that an overwhelming majority of the population (94 per cent) perceive they have such rights. The valuation result indicates that the benefits from the public libraries are four times their costs.

Research limitations/implications

The method is based on hypothetical markets. More contingent valuation studies of libraries are necessary to refine the measure instruments. The study explores the benefit‐cost relation at the national level. Further research is needed for studying the benefit‐cost relation at the municipal level.

Practical implications

The findings can be used as one way of documenting the value of public libraries to politicians, local authorities and the general public.

Originality/value

This appears to be the first contingent valuation study of public libraries at a national level, in Norway and internationally.

Details

New Library World, vol. 106 no. 11/12
Type: Research Article
ISSN: 0307-4803

Keywords

Book part
Publication date: 18 July 2007

Frank Messner

In this chapter, the integrative methodological approach (IMA) of the research project GLOWA Elbe is introduced, which represents a scientific methodology to support water…

Abstract

In this chapter, the integrative methodological approach (IMA) of the research project GLOWA Elbe is introduced, which represents a scientific methodology to support water management under uncertainty regarding future paths of global change. The approach paves the way for integration of research work of many disciplines, of different assessment methods, of various policy fields, and the involvement of relevant stakeholders and decision makers. IMA can be roughly described by four research elements (scenario derivation, indicator and criteria identification, model-based impact analysis, and final scenario assessment based on combined benefit–cost and multi-criteria analysis), which lay the basis for the IMA activities of the global change research sequence. Its practical application is demonstrated by a case study on the Spree and Schwarze Elster river basins. Specific results of Chapter 4 (on scenario derivation) and Chapter 11 (on integrating economic evaluation into water management simulation) in this volume are picked up in order to focus on the illustration of the integrated assessment results for this German case study.

Details

Ecological Economics of Sustainable Watershed Management
Type: Book
ISBN: 978-1-84950-507-9

Article
Publication date: 18 May 2012

Mawdudur Rahman and Mostaq Hussain

The purpose of this paper is to contribute to the theory and applications in social business and accountability.

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Abstract

Purpose

The purpose of this paper is to contribute to the theory and applications in social business and accountability.

Design/methodology/approach

The paper develops the theoretical arguments, shows the importance of non‐accounting measures, explores available non‐accounting measures and suggests BSC as an externally validated reporting tool.

Findings

There is a need to expand the accounting base to non‐financial measures; social business and social enterprises do not have externally validated performance reports and there is no benchmark data to compare performance.

Research limitations/implications

This is a conceptual and theoretical study. It needs empirical validation.

Practical implications

Using the suggested measurement and reporting will make public accountability transparent and expand the accountant's social role. It will motivate teaching of social business in accounting.

Social implications

The study supports social business as a legitimate entity; corporations engaged in social business will be more publicly responsible; the study will encourage investment in social business; small entrepreneurs from the bottom of the society will have an opportunity to participate in the economy; and the poor will participate in the economy, will expand the economy and contribute to social and economic development.

Originality/value

The paper includes guidelines for implementing the proposed BSC, performance measurements and reporting techniques.

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