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Cost Benefit Analysis And Its Uses
Part 1 of Paper
....olicy has many shortcomings we would prefer to avoid. The topic of this section is the lack of justice inherent to CBA and comparing it to other types of measuring systems.
The Pareto Criterion is based on the idea that a policy is acceptable if it benefits at least one person and harms no person. That is a nice idea.... Part 2 of Paper
.... looks at the costs involved in the policy to determine if it is justifiable. This creates difficulties when we realize it creates a one vote per dollar scenario. This does not follow the ideas of democracy we seem to want to follow. When it becomes possible for people to buy the CBA justice cannot follow.
Unreliability: Shadow Prices and Discount Rates, 10.6. Another huge problem with CBA is the prices used in the study. It is very possible to accidentally, or intentionally, use fudged num.... |
| Number of words: 720 - Approximate pages: 3 |
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