What are some real-world examples of cost-benefit analysis?

What are some real-world examples of cost-benefit analysis?

Cost-benefit analysis is used in various fields. For instance, in healthcare, it helps evaluate the cost of a new treatment against its benefits.

Can you give me a specific example from the healthcare sector?

Sure! One example is the analysis of the HPV vaccine. Researchers compared the costs of vaccination programs to the long-term savings from reduced cancer treatment costs.

What about examples in environmental policy?

In environmental policy, a common example is assessing the costs of implementing regulations to reduce air pollution versus the health benefits gained from cleaner air.

How do businesses use cost-benefit analysis?

Businesses often use cost-benefit analysis to decide on investments, like whether to launch a new product by weighing the expected profits against the costs involved.