B-C analysis vs. cost-effectiveness analysis

Opportunity costs

Tangible vs. intangible costs

Discount rates & time - Present value vs. future value

Valuing inputs & outcomes - hedonic cost pricing, willingness to pay, travel cost method

Aggregation problems

Patton & Sawicki: 257 - 331

RES #8: Gupta, Dipak K. 2001. "Chapter 14 Choosing the Best Alternative: Cost-Benefit Analysis." in Analyzing Public Policy: Concepts, Tools, and Techniques. Washington, DC: Congressional Quarterly Press. 

The proposed NC International Terminal in Brunswick County is an example of where benefit-cost analysis is being used to provide information to decision makers.  See the economic impact map, summary of projected economic impacts, planning assumptions, business plan overview, and business plan for examples.  You can also see a competing analysis prepared by the criticis.

Handout - The declining value of a life according to EPA

OMB - Report on the costs and benefits of unfunded mandates (2003)

Download as an adobe acrobat file

Discounting tables from Patton and Sawicki

Federal discount rates for cost-effectiveness analyses - 2008 (federal register notice - and budget assumptions)

OMB Circular No. A - 94 - memo, guidelines,

OMB Circular No. A - 4 (regulatory analysis ) - memo, guidelines, circular

Economic Analysis of Federal Regulations under E.O. 12866 (guidelines)

Guidelines to standardize cost-benefit analyses and the format of accounting statements

To be added