What is cost-benefit analysis in relation to wellbeing?
An example of an AI chatbot conversation about cost-benefit analysis and its impact on wellbeing.
What is cost-benefit analysis in relation to wellbeing?
Cost-benefit analysis (CBA) evaluates the benefits of a decision or project against its costs, particularly in terms of wellbeing.
Can you give me an example of how CBA is used in public health?
Sure! In public health, CBA can assess the impact of vaccination programs by comparing the costs of the program to the health benefits gained.
What are some limitations of using CBA for wellbeing?
Limitations include difficulty in quantifying intangible benefits, potential bias in cost estimates, and the challenge of valuing long-term effects.
How can CBA be improved to better assess wellbeing?
Improving CBA can involve incorporating qualitative data, stakeholder perspectives, and using more comprehensive metrics for wellbeing.
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