This text investigates the theoretical foundations and practical application of cost-benefit analysis as the primary economic instrument for evaluating social choice problems. Authors E. J. Mishan and Euston Quah provide a rigorous examination of the methodology, addressing the complexities inherent in quantifying social welfare and public investment. By synthesizing economic theory with real-world constraints, the authors establish a framework for decision-making that accounts for both efficiency and equity in public policy.

Experts and academics frequently cite this work as a foundational text for students and practitioners of public economics. Readers often note the academic density of the prose, which provides a comprehensive and rigorous treatment of the subject matter.