Limitations of the with and without Principle in Benefit-Cost Analysis

John G. Hof and Douglas B. Rideout
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John G. Hof: USDA Forest Service, Fort Collins, Colorado
Douglas B. Rideout: Colorado State University

Public Finance Review, 1989, vol. 17, issue 2, 216-226

Abstract: This article evaluates common applications of the "with and without principle" in benefit-cost analysis. This principle is often used to analyze and justify individual projects and purposes by comparing their separable costs with separable benefits. These comparisons are shown to be unreliable, especially when nonmarginal output changes are evaluated. Simple examples demonstrate the theoretical points.

Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:sae:pubfin:v:17:y:1989:i:2:p:216-226

DOI: 10.1177/109114218901700205

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