Cost-Benefit Analysis

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Definition Author Date Source format
CBA has been seen as a tool to increase the quality of regulation and public policy through welfare economics principles and Pareto efficiency Torritia and Ikpeb 2014 Torritia and Ikpeb, 2014:1
CBA in theory allows for the improvement of social and environmental conditions based on empirical evidence (Sunstein, 2002; Koopmans et al, 1964) whilst improving market competitiveness (Viscusi et al, 1987) Torritia and Ikpeb 2014 Torritia and Ikpeb, 2014:1
CBA is often used by public administrations as an instrument to measure only certain components of private costs Torritia and Ikpeb 2014 Torritia and Ikpeb, 2014:2