Cost-Benefit Analysis in City Planning

Abstract City planning proposals are made for the purpose of increasing the community's welfare in the evolution of cities. Ideally, the particular proposals made would be those likely to yield the largest attainable combination of net benefits, as compared with the costs of attaining them. Yet, to date the profession has not developed a method for identifying and comparing benefits and costs. As a consequence, it cannot be demonstrated which of alternative plans or projects will bring the highest level of welfare returns in relation to the sacrifices that attach to each. Here a method for cost-benefit analysis is outlined to assist in these objectives.