Argues that it is unrealistic to expect the net benefit of economic globalization to be represented by a single monetary figure because its consequences are diverse and several of its consequences are uncertain. The benefits of economic globalization are accessed in terms of its possible impact on the level of global production and exchange of commodities. Both static and dynamic analysis are c...

We have determined the quality-adjusted-life-years and cost of such in several types of hip fracture and various treatment options. Operative treatment proved more cost-effective than other methods for displaced subcapital fractures and for extracapsular fractures. For undisplaced subcapital fractures conservative treatment was almost as cost-effective as surgery.

The Dodd-Frank Wall Street Reform Act calls for extensive rule-making for financial regulation, the details of which are left up to the relevant enforcement agencies. To help ensure that this wide discretion is not abused, regulators should be required to use Benefit-Cost Analysis (BCA). While BCA has been used extensively and increasingly in in environmental, health and safety regulation (EHS)...

Over hundreds of millions of years, evolution has optimized brain design to maximize its functionality while minimizing costs associated with building and maintenance. This observation suggests that one can use optimization theory to rationalize various features of brain design. Here, we attempt to explain the dimensions and branching structure of dendritic arbors by minimizing dendritic cost f...

Public policies may affect employment by directly creating jobs, facilitating job creation, or augmenting labor supply. In labor markets with high unemployment, such employment changes may have significant net efficiency benefits, which should be included in benefit-cost analyses. The research literature offers diverse recommendations on measuring employment benefits. Many of the recommendation...

In this paper I compare cost-benefit analysis (CBA) to multi-criteria analysis (MCA). I review the nature of the two approaches and consider the criticisms that have been made of CBA. I conclude that these criticisms largely lack merit, and that even to the extent to which they are meritorious, they provide no justification for relying on MCA. I conclude by expressing my concerns about the grow...

The issue of assessing priorities is one that has become the subject of much debate in the National Health Service particularly in the wake of various documents on priorities from central Government. It has become even more so with the prospect of real cuts in expenditure. Economists claim that their science, or perhaps more accurately art can assist in determining not only how best to achieve ...

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