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Measure those costs and benefits that can be expressed in dollar terms and either estimate or acknowledge those that cannot be measured easily

Sociology

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Measure those costs and benefits that can be expressed in dollar terms and either estimate or acknowledge those that cannot be measured easily. Because a complete cost-benefit analysis of raising the gasoline tax can become exceedingly complicated, consider a narrow study. Although economists cannot easily measure all benefits noted, they have estimated that the pollution damages amount to about 40 cents a gallon, the carbon dioxide emissions 6 cents a gallon (estimates vary widely here), traffic congestion about 70 cents a gallon on average, and traffic accidents 60 cents a gallon, for a total of $1.76 a gallon (Parry 2002).


Book (Public Policy Kraft, Michael E.)