How should policy analysts assess 'benefit validity' when behavioral anomalies appear relevant? David L. Weimer provides thoughtful answers through practical guidelines. Behavioral economists have identified a number of situations in which people appear not to behave according to the...

"Behavioral economists have identified a number of situations in which people appear not to behave according to the neoclassical assumptions underpinning welfare economics and its application to the assessment of the efficiency of proposed public policies through cost-benefit analysis. This book...

One way for jurisdictions with limited analytic resources to increase their capability for doing cost-benefit analysis (CBA) is to use existing shadow prices, or "plug-ins", for important social impacts. This article contributes to the further development of one important shadow price: the value...