Cost-benefit Analysis

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The world is increasingly concerned with bridging the developmental gap between the developed and developing countries. With the establishment of a number of institutions for funding the projects including the World Bank, Asian Development Bank, and many other agencies, the need to develop mechanisms to assess economically viable projects is more important than ever. The Social-Cost Benefit Analysis (SCBA) is an important technique used in formulating, appraising, and evaluating projects. It is a facet of applied welfare economics which is increasingly being used to identify and assess public projects in both developing and developed countries. This volume presents a comprehensive view of cost-benefit analysis in its theoretical and applied dimensions. Both theory and case studies are presented. The theoretical setting for Cost-Benefit Analysis is established by the first five chapters-"Spatial General Equilibrium and Cost-Benefit Analysis," by David M. Newbery; "Optimum Growth Theory and Social Time Preference: A Computerized Mathematical Modeling Exercise to Choose a Social Discount Rate," by Sardar M. N. Islam; "A Theoretical Inquiry of the Axiomatic Consistency of Distributiona

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