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Title
The "Apples and Oranges" of Benefits and Costs
The Metric of Monetization
The Political Metric
Historical Overview--Benefit/Cost Analysis
Problems With Excessive Reliance on Benefit/Cost Analysis
Problems, Continued
Problems, Continued
Problems, Continued
Problems, Continued
Problems, Continued
Efficiency Revisited
Kaldor-Hicks
More on Kaldor-Hicks
Maximizing Present Discounted Value (PDV) of Net Social Benefit
Computation of PDV
Discussion: Discounting and Social Policy
Hypothetical Example: Sulfur Dioxide
Table: Hypothetical Numerical Example
Diagram: Optimal Cleanup Where Marginal Benefit = Marginal Cost