This outstanding text, a follow-up to the authors’ award-winning 1982 text, provides a thorough treatment of economic welfare theory and develops a complete theoretical and empirical framework for applied project and policy evaluation. The authors illustrate how this theory can be used to...

The practical value of intuitive insights provided by innovative scholars drives much of the current development in applied welfare economics. This authoritative volume – prepared by leading researchers in the field – presents the most important articles that provide a foundation for applied...

Benefit–cost analysis reduces all of the impacts of a proposed policy change to a common unit of measurement. It is used in a wide variety of fields including agriculture, life and health, transportation and the environment. In this single volume the editors, both leading scholars in their...