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These essays by the distinguished economist Arnold C. Harberger cover the theory of project evaluation and its applications, with emphasis on public-sector investments designed to promote economic development.

This is an authoritative collection of the most important published articles in the field of cost-benefit analysis together with an extensive new introduction by the editors. Whilst focusing on the practical side, looking at applications such as education, transportation and the value of life and health, this volume also emphasizes the essential role of economic theory, with sections on the economic costs of public funds, foreign exchange and labour. The result is an influential selection based on robust and fundamental theoretical propositions - ones that are readily suitable for everyday...