Thanks also for linking to my article about different VfM methods. I would argue that CBA doesn’t let us off the hook from selecting criteria. It comes packaged with a single criterion (Kaldor-Hicks efficiency) so when we select CBA we are taking up a values position whether we declare it (or know it) or not. I argue, let’s define explic…
Thanks also for linking to my article about different VfM methods. I would argue that CBA doesn’t let us off the hook from selecting criteria. It comes packaged with a single criterion (Kaldor-Hicks efficiency) so when we select CBA we are taking up a values position whether we declare it (or know it) or not. I argue, let’s define explicit, context-specific criteria and standards first, and then decide whether CBA has a place among our mix of methods.
Thanks for the insight, Julian - you've introduced me to the idea of Kaldor-Hicks efficiency. What you're saying about defining criteria before selecting a method makes a lot of sense.
Thanks also for linking to my article about different VfM methods. I would argue that CBA doesn’t let us off the hook from selecting criteria. It comes packaged with a single criterion (Kaldor-Hicks efficiency) so when we select CBA we are taking up a values position whether we declare it (or know it) or not. I argue, let’s define explicit, context-specific criteria and standards first, and then decide whether CBA has a place among our mix of methods.
Thanks for the insight, Julian - you've introduced me to the idea of Kaldor-Hicks efficiency. What you're saying about defining criteria before selecting a method makes a lot of sense.