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"Plug-in" shadow price estimates for policy analysis

Listed author(s):
  • David H. Greenberg

    (Department of Economics, 1000 Hilltop Circle, University of Maryland Baltimore County, Baltimore, MD 21228, USA)

  • Aidan R. Vining

    (Faculty of Business Administration, Simon Fraser University, Burnaby, British Columbia, Canada V7A 1S6)

  • David L. Weimer


    (Public Policy Analysis Program, University of Rochester, Rochester, NY 14627, USA)

  • Anthony E. Boardman


    (Faculty of Commerce and Business Administration, 2053 Main Mall, University of British Columbia, Vancouver, British Columbia, Canada V6T 1Z2)

In assessing existing or proposed public policies, analysts often need shadow price estimates for one or two key items - for example, the value of a human life, the cost of various types of injuries, the cost of a robbery or the value of an hour of travel time saved. This paper provides estimates of the values of many, frequently encountered impacts. These estimates are intended to be "plugged-in" to analyses of policy alternatives. Although these estimates may not be sufficiently accurate for some policy decisions, they will be very helpful in many policy situations.

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Article provided by Springer & Western Regional Science Association in its journal The Annals of Regional Science.

Volume (Year): 31 (1997)
Issue (Month): 3 ()
Pages: 299-324

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Handle: RePEc:spr:anresc:v:31:y:1997:i:3:p:299-324
Note: Received: 15 August 1996 / Accepted in revised form: 19 February 1997
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