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cost-benefit analysis |
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cost-benefit analysisIn governmental planning and budgeting, the attempt to measure the social benefits of a proposed project in monetary terms and compare them with its costs. The procedure was first proposed in 1844 by Arsène-Jules-Étienne-Juvénal Dupuit (1804–66). It was not seriously applied until the 1936 U.S. Flood Control Act, which required that the benefits of flood-control projects exceed their costs. A cost-benefit ratio is determined by dividing the projected benefits of a program by the projected costs. A wide range of variables, including nonquantitative ones such as quality of life, are often considered because the value of the benefits may be indirect or projected far into the future. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Certainly, that cost-benefit analysis may be different in a country with a much higher rate of HW infection, but I think the article's portrayal of circumcision as a no-brainer is far too simplistic. To help address the controversy that still simmers over how, or whether, to assign a specific value to effects such as degraded human health, OIRA and several federal agencies asked a committee of the National Academies' Institute of Medicine (IOM) to weigh in with guidance on one type of cost-benefit analysis, called cost-effectiveness analysis (CEA), which can include calculations of the dollar value of human life and which was included in Circular A-4. Instead it is a book about the cost-benefit analysis approach to environmental and health issues. |
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