Simple Introduction to Cost-Benefit Analysis

Cost-benefit analysis is a framework to assess the merits of an activity (project, policy) from the perspective of society (as opposed to a single individual). It involves: • measuring the gains and losses (benefits and costs) from an activity to the community using money as the measuring rod; and • aggregating those values of gains and losses and expressing them as net community gains or losses (see Pearce 1983).  


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