Cost benefit analysis vs. referenda
AbstractWe consider a planner who chooses between two possible public policies and ask whether a referendum or a cost benefit analysis leads to higher welfare. We find that a referendum leads to higher welfare than a cost benefit analyses in "common value" environments. Cost benefit analysis is better in "private value" environments.
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Bibliographic InfoPaper provided by University of Toronto, Department of Economics in its series Working Papers with number tecipa-286.
Length: 27 pages
Date of creation: 13 Apr 2007
Date of revision:
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Cost benefit analysis; elections; referenda; project evaluation;
Find related papers by JEL classification:
- H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
- H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-04-21 (All new papers)
- NEP-CDM-2007-04-21 (Collective Decision-Making)
- NEP-PBE-2007-04-21 (Public Economics)
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