ECON 2J03 Lecture Notes - Lecture 6: Waste Treatment, Hazardous Waste
Document Summary
Why use bca: bca analysis helps society make informed decisions and use scarce resources efficiently, governments can use benefit-cost analysis to determine which projects will have a higher net benefit for society. Social benefit and cost analysis: bca incorporates social valuation of all inputs and outputs related to the project whether or not they are transacted in private markets. In canada, benefit cost analysis has not been officially legislated for use by either federal or provincial gov"t. In the us there has been legislation compelling certain projects to undergo benefit-cost analysis. Arguments against bca: public agencies only use bca in a way to justify larger budgets, bca analysis makes it hard to justify certain programs where the benefits are difficult to quantify.
