Cost-Benefit Analysis (CBA) Illustrated by the California GAIN Random Assignment Experiment. Plan of Discussion. What is Cost-Benefit Analysis? How is it done for social programs? What are some alternatives to CBA? How are the costs of social programs estimated (if time permits)?.
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6.Chose the social discount rate
7.Add up the benefits and costs
Bt = benefits over time
Ct = costs over time
r = the social discount rate
t = a time period
(GAIN was discounted over 5 years, not infinity)
B/C = Value of a life saved in dollars / Cost in dollars
= Dollars of benefits per dollar of expenditure
C/E = Cost in dollars / Number of lives saved = Number of dollars expended per life saved
unit costs x participation rate x average length of participation
gross cost for the program group minus
gross cost for the control group