Introduction to Cost-Benefit Analysis: Looking for Reasonable Shortcuts

This accessible and non-technical introductory text presents the principal methods and key concepts involved in understanding and applying cost-benefit analysis, and demonstrating how to evaluate whether an investment project or policy proposal will contribute to increase social welfare. Gines de Rus incorporates the latest thinking on issues such as the treatment of risk and uncertainty, and the importance of institutional arrangements in ensuring the correct use of the technique. These issues are blended seamlessly into the relevant case studies, rather than treated as optional extras, as in some texts. The case studies themselves are at the centre of current debate and controversy, including the need for high-speed rail lines and the case for the privatisation of water supply. Introduction to Cost-Benefit Analysis is intended as a graduate and advanced undergraduate textbook. Nevertheless, economists and other practitioners involved in the economic evaluation of projects will also find the book extremely useful.