Benefit Cost Analysis and the Entanglements of Love
نویسنده
چکیده
Suppose that after careful thought, a parent reports that she is willing to pay up to $100 to save her child from one day of cold symptoms. How can we use her answer and those of other parents to analyze the benefit of public projects that affect child health? Would it make sense to calculate the expected number of child days of cold symptoms that a project would prevent and to multiply this number by the average willingness to pay of a sample of parents? But if a child has two parents, maybe we should value the child’s health at the sum of the two parents’ willingness to pay. Or, if the two parents’ answers differ, perhaps we should use the maximum or perhaps the minimum of their two answers. And what of the child’s own valuation on improved health? Why shouldn’t we count that as well? To answer questions like these, we need to
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