乔纳森·格鲁伯-财政学（第五版）gruber_5e_lecture_slides_ch08.pptxVIP

Copyright ? 2010 Worth Publishers 8Heather Luea and Dan SacksP R E P A R E D B Y8.1 Measuring the Costs of Public Projects8.2 Measuring the Benefits of Public Projects8.3 Putting It All Together8.4 ConclusionCost-Benefit Analysis 8Introduction: California Transportation ProblemThe state’s transportation problem:Travel on California’s highway system is increasing 5 times faster than its capacity increases.Population is expected to increase by 20 million over the next 30–40 years.The state has proposed the first high-speed rail system in the United States, covering 800 miles.Voters opted to pay for the projected $68 billion cost through bonds, federal funding, private investment, and revenue from carbon dioxide permits.Analysts concluded the net benefits of rail system were over $133 billion. 8Cost-Benefit AnalysisThis chapter covers cost-benefit analysis.Cost-benefit analysis: The comparison of costs and benefits of public goods projects to decide if they should be undertaken.Cost-benefit analysis is widely used to evaluate potential public programs and projects. 8.1Example: Cost-Benefits Analysis of Highway Construction ProjectWhat are the costs and benefits of the project? In the first year? Over time? 8.1How to measure costs?Cash-flow accounting: An accounting method that calculates costs solely by adding up what the government pays for inputs to a project and calculates benefits solely by adding up income or government revenues generated by the project.Opportunity cost: The social marginal cost of any resource is the value of that resource in its next best use.Measuring opportunity costs faces several challenges.Measuring Current Costs 8.1Economic costs are only those costs associated with diverting the resource from its next best use.Rents: Payments to resource deliverers that exceed those necessary to employ the resource.If labor is efficiently employed, then wages are a social cost.If some workers are unemployed, then we value their time at the value of le