Applied Welfare Economics

Cost-Benefit Analysis of Projects and Policies

Massimo Florio (University of Milan, Italy), Chiara Pancotti

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English

Routledge
30 August 2022

Welfare economics

Series: Routledge Advanced Texts in Economics and Finance

Applied Welfare Economics: Cost-Benefit Analysis for Project and Policy Evaluation presents a consistent framework for applied welfare economics and is grounded in a comprehensive theory of cost-benefit analysis, specifically focused on offering a practical approach to policy and project evaluation. After opening with a theoretical discussion of the concept of social welfare, a critical analysis of the traditional doctrine of welfare economics embodied in the Two Fundamental Theorems, and a presentation of social cost-benefit analysis, the book introduces readers to an applied framework. This includes the empirical estimation of shadow prices of goods, the social cost of labour and capital, and the assessment of risk. The book also examines real-life experiences with cost-benefit analysis, including ex-post evaluation of major projects, economic rates of return in different sectors, and a case study on privatisation. These chapters draw on first-hand research gained by the author team from years of advisory work for the European Commission and other international and national institutions. This second edition presents updated data, more international examples, and more coverage of topics such as very long run discounting effects and climate change as an intergenerational effect. It also includes more practical examples and end-of-chapter questions to aid student’s learning. Applied Welfare Economics is a valuable textbook for upper-level courses on welfare economics, cost-benefit analysis, public policy analysis and related areas.

By: Massimo Florio (University of Milan Italy), Chiara Pancotti
Imprint: Routledge
Country of Publication: United Kingdom
Edition: 2nd edition
Dimensions: Height: 246mm, Width: 174mm,
Weight: 760g
ISBN: 9781032022185
ISBN 10: 1032022183
Series: Routledge Advanced Texts in Economics and Finance
Pages: 324
Publication Date: 30 August 2022
Audience: College/higher education , Primary , A / AS level
Format: Paperback
Publisher's Status: Active

Massimo Florio is Professor of Public Economics and Jean Monnet Chair “ad personam” of EU Industrial Policy at the University of Milan, Italy. Chiara Pancotti is Adjunct Professor of Cost-Benefit Analysis at Università degli Studi di Milano and Senior Researcher at the Centre for Industrial Studies, Italy.