Scitovsky Reversals and Practical Benefit-Cost Analysis

The Unimportance of the Scitovsky Reversal Paradox and Its Irrelevance for Cost-benefit Analysis

The possibility of preference reversals using cost-benefit analysis has concerned economists since the early 1940s, when Scitovsky (1941) published his results. Lawyers and philosophers have used this possibility to attempt to discredit cost-benefit analysis. Scitovsky reversals will not occur when one position is first best, when there is no crossing of the production possibility curves, when ...

A Cost-Benefit Analysis

The purpose of this study was to evaluate and compare the clinical effects, safety, and economic cost of propofol and midazolam in the sedation of patients undergoing mechanionl ventilation in the ICU. Eighty-eight critically ill patients were studied and randomly allocated to receive short-term (less than 24 h), medium-term (24 h to 7 days), and prolonged (more than 7 days)continuous sedation ...

A cost/benefit analysis

Order is the key word of science. Scientists have tried to order and explain all the phenomena of the universe. They found that the planets and stars move along predictable paths, discovered the laws of gravitation and devised formulae to describe inheritance. For them, the universe is like a clock. Their mission is to discover and explain the mechanism of this clock and thus explain the laws t...

(Cost benefit analysis and cost−effectiveness analysis) Table of Contents

MAXIMAL ALLOCATED BENEFIT AND MINIMAL ALLOCATED COST AND ITS APPLICATION

In this paper, we investigate the problems of consensus-making among institution in stock exchange with multiple criteria for evaluating performance when the players (institutions) are supposed to be egoistic and the score for each criterion for a player is supposed to be a positive score. Each player sticks to his superiority regarding the criteria. This paper introduces the models for computi...