Defining Regional "Standing" for Cost-Benefit Analysis in Federated Countries

    Research output: Contribution to journalArticle

    Abstract

    Specification of "standing" - whose benefits and costs should be counted - is a crucial step in a Cost-Benefit Analysis. If it is omitted, some relevant costs and benefits may be excluded, or, conversely, wrongly included. The textbook formulation for standing is "the whole of society" for a country, but the literature is virtually silent on the issue at a sub-national or regional level. A strictly state or regional standing can be a problem within federated countries such as Australia or the USA due to conceptual inconsistencies and resulting inefficiencies. On balance, a national perspective is to be preferred, at least as a default option.
    Original languageEnglish
    Pages (from-to)156-166
    JournalEconomic Papers
    Volume38
    Issue number2
    DOIs
    Publication statusPublished - 2019

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