CostBenefit Analysis Concepts and Practice FOURTH EDITION Chapter

Cost-Benefit Analysis Concepts and Practice FOURTH EDITION Chapter Five Valuing Benefits and Costs in Secondary Markets Cost-Benefit Analysis: Concepts and Practice, Fourth Edition Boardman • Greenberg • Vining • Weimer Copyright © 2011 by Pearson Education, Inc. Upper Saddle River, New Jersey 07458 All rights reserved.

Figure 5 -1(a) Primary Market: Market for Fishing Days Cost-Benefit Analysis: Concepts and Practice, Fourth Edition Boardman • Greenberg • Vining • Weimer Copyright © 2011 by Pearson Education, Inc. Upper Saddle River, New Jersey 07458 All rights reserved.

Figure 5 -1(b) Secondary Market: Market for Fishing Equipment (No Price Effect) Cost-Benefit Analysis: Concepts and Practice, Fourth Edition Boardman • Greenberg • Vining • Weimer Copyright © 2011 by Pearson Education, Inc. Upper Saddle River, New Jersey 07458 All rights reserved.

Figure 5 -2(a) Primary Market: Market for Fishing Days Cost-Benefit Analysis: Concepts and Practice, Fourth Edition Boardman • Greenberg • Vining • Weimer Copyright © 2011 by Pearson Education, Inc. Upper Saddle River, New Jersey 07458 All rights reserved.

Figure 5 -2(b) Secondary Market: Market for Golfing Days (Price Effects) Cost-Benefit Analysis: Concepts and Practice, Fourth Edition Boardman • Greenberg • Vining • Weimer Copyright © 2011 by Pearson Education, Inc. Upper Saddle River, New Jersey 07458 All rights reserved.

Figure 5 -3 Distorted Secondary Market: Market for Fishing Equipment (No Price Effect) Cost-Benefit Analysis: Concepts and Practice, Fourth Edition Boardman • Greenberg • Vining • Weimer Copyright © 2011 by Pearson Education, Inc. Upper Saddle River, New Jersey 07458 All rights reserved.

Figure 5 -4 Market for (a) Beef (b) Chicken Cost-Benefit Analysis: Concepts and Practice, Fourth Edition Boardman • Greenberg • Vining • Weimer Copyright © 2011 by Pearson Education, Inc. Upper Saddle River, New Jersey 07458 All rights reserved.

Cost-Benefit Analysis: Concepts and Practice, Fourth Edition Boardman • Greenberg • Vining • Weimer Copyright © 2011 by Pearson Education, Inc. Upper Saddle River, New Jersey 07458 All rights reserved.

Cost-Benefit Analysis: Concepts and Practice, Fourth Edition Boardman • Greenberg • Vining • Weimer Copyright © 2011 by Pearson Education, Inc. Upper Saddle River, New Jersey 07458 All rights reserved.

Table 5 -1 (continued) Rules for Measuring Social Benefits and Costs of Government Interventions Cost-Benefit Analysis: Concepts and Practice, Fourth Edition Boardman • Greenberg • Vining • Weimer Copyright © 2011 by Pearson Education, Inc. Upper Saddle River, New Jersey 07458 All rights reserved.

Cost-Benefit Analysis: Concepts and Practice, Fourth Edition Boardman • Greenberg • Vining • Weimer Copyright © 2011 by Pearson Education, Inc. Upper Saddle River, New Jersey 07458 All rights reserved.

EXHIBIT 5 -2 (continued) Cost-Benefit Analysis: Concepts and Practice, Fourth Edition Boardman • Greenberg • Vining • Weimer Copyright © 2011 by Pearson Education, Inc. Upper Saddle River, New Jersey 07458 All rights reserved.