E. J. MISHAN, PhD, was Professor of Economics at the London School of Economics for over twenty-one years. He has also lectured at various universities . Cost-benefit analysis / E.J. Mishan and Euston Quah Mishan, E. J., Summary: For this edition, E.J. Mishan has been joined by Euston Quah of. Cost-Benefit Analysis. By E. J. MISHAN. (London: Allen and Unwin,. Pp. J4 50 (cloth). $ (paper).) DR. MISHAN presents this book as a textbook .

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More controversially, Mishan argued that growth led to more hedonism and a permissive society, which he saw as detrimental to welfare.

EJ Mishan obituary

Cost-benefit analysis is used everywhere, but its techniques are particularly prominent in fields where there is some kind of ethical dimension. His writings often remind readers of significant market failures resulting in welfare losses. He worked first as a lecturer, then a professor, at the LSEand later took up positions .ej.mishan a number of American universities, retiring in For this edition, E.

Critique of thediscounted presentvalue criterion.

Cost-Benefit Analysis – E.J. Mishan, Euston Quah – Google Books

Threads collapsed expanded unthreaded. Governments in both the developed and the developing world use the technique to make informed decisions in areas ranging from infrastructure development to health and education. Measurements of consumer surplus. These are typical questions to which cost-benefit analysis, the key economic tool for analyzing problems of social choice can contribute to, as well as providing a useful vehicle for understanding the practical value of welfare economics.


In addition to the social malaise that may accompany a freely and seemingly unregulated competitive market system, Mishan cos questioned the effectiveness of market-derived solutions in the modern world of rapidly changing technology. The discountedpresent value criterion 24 Theinternal rate of return 25 The alleged superiority of the discounted present value criterion.

At worldwide summits, international lending agencies also require some form of cost-benefit analysis in approving projects from developing countries. Ezra Mishan, who has died aged 96, was one of the vost economists to argue that there are significant downsides to economic growth. Mishan Snippet view – He was always circumspect about rightist, non-interventionist prescriptions on the economy and governance, and believed that there had to be checks and balances, and the correct amount of government intervention.

The value of life. Order by newest oldest recommendations.

The normalized compounded terminal value criterion. These are typical questions to which cost-benefit analysis, the key economic tool for analyzing problems of social choice can contribute to, as well as providing Measuring the benefits of recreational areas.

New themes explored include the impact of game theory on CBA. The concept and measure of rent. Opportunity cost of unemployed labour. He also wrote on pornography, psychedelic drugs and the social ills brought about by technological growth.

Account Options Sign in. He is survived by four children, David, Freda, Joseph and Rachel, seven grandchildren and four great-grandchildren. He continued to write untilhis work appearing in newspapers and magazines in the UK and US.


This invaluable text covers the main problems that arise in a typical cost-benefit exercise. Four additional strategems for coping with uncertainty. Risk and certainty equivalence. Show 25 25 50 All. Should Malaysia build a new steel mill, or New York City an urban motorway? It is still in use around the world, and for the fifth edition in I joined him analtsis co-author. InMishan married Ray Rayzel Blesofsky. The Pareto criterion and generational time. Mishan has been joined by Euston Quah, to explore new themes, including the impact of uncertainty on cost-benefit analysis and to introduce a host of new and up-to-date case studies.

He was born in Manchester, the second of five children of David, a textile importer from Cairo who had moved to E.j.miishan during the first world war, and his wife, Freda. Contents Preface to the fifth edition.

Howpracticalare game theory decision techniques?

In fact, he found that growth often brought less of the non-material things that make us happy: MishanEuston Quah. An Introduction Edward J. Should higher education expand, or water supplies be improved? The parties involved in an exchange may inadvertently create costs for others not aanlysis with it.