We make four main contributions in this paper related to the theory and practice of benefit cost analysis (BCA). First, we show that most BCAs of policy interventions do not consider the welfare consequences in secondary markets, where goods or services can be complements or substitutes to those...

We conduct a benefit-cost analysis of a U.S. child allowance, based on a systematic literature review of the highest quality available causal evidence on the short- and long-term effects of cash and near-cash transfers. In contrast to the previous studies we synthesize, which tend to measure a...

The UNESCO World Heritage List contains the 900 most treasured Sites of humanity's culture and landscapes.The World Heritage List is beneficial where heritage sites are undetected, disregarded by national decision-makers, not commercially exploitable, and where national financial resources,...

In August 2007, the Office of Best Practice Regulation (then part of the Productivity Commission) published its Best Practice Regulation Handbook, containing guidelines including use of a social discount rate of 7 percent real, with sensitivity testing over the range of 3 to 11 per cent (OBPR...

Component commonality - the use of the same version of a component across multiple products - is being increasingly considered as a promising way to offer high external variety while retaining low internal variety in operations. However, increasing commonality has both positive and negative cost...