After 30 years of shouting in the wilderness I found it glorious to find Alan Wenban-Smith (last edition’s Viewpoint) coming out and saying the ‘unsayable’. Yep, Cost Benefit Analysis (CBA), as it was called in my day, is about ‘choosing between alternative ways of achieving specific, limited aims’. It is all about relative, not absolute, results.
Seen in this light, all the problems surrounding value of time, and what it represents, and even what modelling is...
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