Teaching Benefit-Cost Analysis
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Teaching Benefit-Cost Analysis

Tools of the Trade

Edited by Scott Farrow

Teaching Benefit-Cost Analysis provides detail and inspiration that extends and clarifies standard textbooks. Each short, self-contained module includes guidance to additional sources while many also provide class exercises. Classes for advanced undergraduates, practitioners, or Masters students could especially apply these tools of the trade.
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Chapter 15: Evaluating knowledge projects and R & D infrastructures with an example

Massimo Florio and Chiara Pancotti


What is the benefit for society of capital-intensive investment in research and development (R & D) infrastructure? This chapter concisely presents a model for applying benefit-cost analysis (BCA) to such projects and shows its application through a quantitative case study. The content of this chapter relies on the experience gathered by the team of the University of Milan and the Centre for Industrial Studies (CSIL) in a research project on how to apply ex ante BCA for major R & D infrastructures as well as years of teaching activities for an international audience of young professionals and early career researchers. The objective is to illustrate both theoretical and empirical approaches to address the evaluation of R & D infrastructural projects which are an essential driver of scientific progress and economic growth.

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