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Cost–Benefit Analysis

  1. Sven Ove Hansson

Published Online: 1 FEB 2013

DOI: 10.1002/9781444367072.wbiee219

The International Encyclopedia of Ethics

How to Cite

Hansson, S. O. 2013. Cost–Benefit Analysis. The International Encyclopedia of Ethics. .

Publication History

  1. Published Online: 1 FEB 2013

Abstract

In order to facilitate a decision on a proposed project, it is advisable to make a list of all its advantages and disadvantages, and characterize each of these in as much detail as possible. The decision-maker can then weigh all the pros and cons against each other and – at least ideally – make a decision that is based on knowledge of all the relevant factors.

Keywords:

  • ethics in economics;
  • normative ethics;
  • practical (applied) ethics;
  • welfare economics;
  • benefit-cost analysis;
  • climate;
  • compensatory justice;
  • consequentialism;
  • decision making;
  • environmental regulation