Published January 1979 | Submitted
Working Paper Open

The Methodology of Benefit-Cost Analysis with Particular Reference to the CFC Program

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Abstract

This paper is a preliminary investigation of some critical concepts of allocative economics to determine the extent to which benefit-cost analysis of the CFC problem can make an economic contribution to the decision-making processes of society. If our conclusions are, in the main, correct, they will act inevitably to weaken the faith that can be reposed in a benefit-cost analysis or, at least, to restrict its range of application.

Additional Information

Published as Mishan, Ezra J., and Talbot Page. "The Methodology of Benefit-Cost Analysis with Particular Reference to the CFC Program." The Economics of Managing Chlorofluorocarbons: Stratospheric Ozone and Climate Issues (1982).

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