The concept of cost-benefit analysis dates back to an 1848 article by Jules Dupuit and was formalised in subsequent works by Alfred Marshall.
Basic decision making.
A process of maximizing benefits and minimizing costs.
At all levels of government in the United States, cost-benefit analyses are used as a basis for allocating resources for the public good to those programs, projects, and services that will meet the...
If the benefits and costs occur in different time periods, it may be necessary to discount the future cash flows to their current equivalent worth.