@article{White:125037,
      recid = {125037},
      author = {White, Barry},
      title = {A Simplified Benefit- Cost Calculator to Foster Research  Evaluation and Monitoring},
      address = {1999},
      number = {410-2016-25588},
      pages = {10},
      year = {1999},
      abstract = {Increasing use of Benefit-Cost Analysis (BCA) in ex ante  research evaluation has not
been accompanied by consensus  on the increased returns flowing from the  evaluation
effort. There are likely to be a wide range of  views held by researchers, agricultural
economists and  research managers on how evaluation can be made more  effective. The
paper draws on the author’s experience in  the evolution of BCA in research evaluation
to propose how  the current state of the art might be advanced.
A BCA  calculator is presented which enables a BC ratio to be  simply and accurately
determined. Inputs are total costs  and their duration, potential benefits, and the
adoption  lag and rate. The adoption data, for example, is used in a  table to look up the
appropriate factor for the sum of  discounted benefits. The calculator is likely to be seen
as  a somewhat oblique approach for those now accustomed to  using the same inputs in a
spreadsheet. However, the more  likely role is as an introductory tool for researchers
and  research managers which is easier to understand, convenient  and transparent.
Further, the calculator shows that the  effort in BCA calculations is trivial compared to
that  required to determine the input data. The calculator could  also add to an evaluation
approach which is competitive and  indeed superior to more intuitive and less
accountable  approaches to resource allocation decisions. More  widespread use of ex
ante BCA, coupled with ongoing  monitoring, are seen as the essential priorities  for
research evaluation. Monitoring can convert estimates  of key inputs such as adoption
patterns from an artful art  to a science.},
      url = {http://ageconsearch.umn.edu/record/125037},
      doi = {https://doi.org/10.22004/ag.econ.125037},
}