{"product_id":"cost-benefit-analysis","title":"Cost–Benefit Analysis","description":"\u003cp\u003eThis Element on cost-benefit analysis provides a summary of recent theoretical and empirical developments and summarizes state-of-the-art stated-preference and revealed-preference valuation methods. The Element discusses how to assess small (or marginal) as well as large (or non-marginal) projects that have a significant impact on prices and\/or other economic variables. It also discusses distortions like taxes, market power, and sticky prices. In addition, risk\/uncertainty is considered. A novel feature is the elaboration on flexible evaluation rules for reasonably small projects. Conventional point-estimates of projects should be used with care, because they typically give biased results.\u003c\/p\u003e","brand":"Cambridge University Press Bookshop","offers":[{"title":"Default Title","offer_id":56669782737282,"sku":"9781108462938","price":18.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0475\/2031\/7597\/files\/9781108462938i.jpg?v=1779712943","url":"https:\/\/www.cambridgebookshop.co.uk\/products\/cost-benefit-analysis","provider":"Cambridge University Press Bookshop","version":"1.0","type":"link"}