Abstract
This chapter examines the role of benefit-cost analysis (BCA) as a tool to inform collective decision making surrounding resource allocation trade-offs. It focuses on two major issues of contention, job losses and environmental impacts in policy assessment. The issue of rent-seeking behaviour is identified as a challenge in communicating the results of benefit-cost analysis. The chapter raises questions about the conceptual validity of some approaches to valuation of non-market benefits that may undermine public confidence in BCA.
| Original language | English |
|---|---|
| Title of host publication | Water Policy Reform |
| Subtitle of host publication | Lessons in Sustainability from the Murray-Darling Basin |
| Publisher | Edward Elgar Publishing Ltd. |
| Pages | 159-169 |
| Number of pages | 11 |
| ISBN (Electronic) | 9781781000328 |
| ISBN (Print) | 9781781000311 |
| Publication status | Published - 1 Jan 2012 |