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cost-benefit analysis |
Also found in: Medical, Financial, Wikipedia, Hutchinson | 0.01 sec. |
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. |
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``We really don't know a whole lot about the overall costs and benefits of homeland security,'' Becker said. The study, 'A little knowledge is a dangerous thing: How perceptions of costs and benefits affect access to education', has implications for Australia, according to Ian Dobson, head of the Education Policy Institutes' Australasian arm, who said the idea that people from lower socio-economic areas opted against university was a logical conclusion to draw in Australia too. Much of the discussion centered on the present and future costs and benefits of complying with section 404 of the act. |
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Costs and benefits
