PP Presentation
- In 1844 Jules Dupuit argued that the output of a project multiplied by per unit market price gives an estimate of the minimum social benefit of the project.
- The US Flood Control Act of 1936: Congress declared that the benefits associated with federal projects should exceed costs.
- Benefit/cost analysis has become a highly-charged, controversial issue.
- Some wish to increase the use of benefit/cost analysis in order to enhance the efficiency of government regulation.