The Methodology of Cost-Benefit Analysis, with Particular Reference to the Ozone Problem
Author(s)
Mishan, Ezra J.; Page, Talbot
Abstract
Seemingly technical aspects of the cost-benefit methodology can raise complex questions of ethical judgment, which economists cannot afford to ignore. The methodological dilemmas of cost-benefit analysis, as described in this article, are particularly important in cases of uncertain but potentially serious long-run problems, such as the depletion of the ozone layer.
