Estimating the Costs and Benefits of Educational Testing Programs
By Richard Phelps, Ph.D. Economist Education Consumers Consultants Network Benefit-cost analysis is imbedded in all studies that ask the essential question of an activity, “Is it worth doing?” Benefit-cost analysis is a set of techniques, philosophy, and logic that can impose an order and rigor on the process used to answer the essential question. The logic of benefit-cost analysis is that of the accountant’s spreadsheet. Indeed, one could accurately describe it as economists’ accounting method. The essential … Read More