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Defining Regional “Standing” for Cost–Benefit Analysis in Federated Countries

Leo Dobes ()

Economic Papers, 2019, vol. 38, issue 2, 156-166

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.

Date: 2019
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Handle: RePEc:bla:econpa:v:38:y:2019:i:2:p:156-166