The Case for using Cost Benefit Analysis to Evaluate the Supply of Public Goods in the Maritime Industry

Authors

  • Mervyn John University of Maryland

Abstract

In an era in which economists have rediscovered their belief in the economic efficiency of free markets and espoused privatization as a policy means of achieving these benefits, perhaps it is advisable to consider some of the difficulties markets have in supplying public and merit goods. In the following article, the case of the Hydrographic Service is used to illustrate the problem of relying on free markets to provide maritime safety services and the difficulties of using traditional accounting methods to assess the adequacy of that provision. It is also argued that the technique of cost benefit analysis should be used to assess the adequacy of the supply of public goods and a framework is suggested for the evaluative structure.

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Published

2015-05-20

How to Cite

John, M. (2015). The Case for using Cost Benefit Analysis to Evaluate the Supply of Public Goods in the Maritime Industry. The International Hydrographic Review, 72(1). Retrieved from https://journals.lib.unb.ca/index.php/ihr/article/view/23196

Issue

1995: Vol. LXXII, No. 1

Section

Articles

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Authors should also bear the following points in mind:

  1. The title should be concise and reflect the subject matter
  2. Long passages of text should be avoided by the appropriate use of sub-titles
  3. References, which should include only publications cited, should be referenced in the text, thus (Smith, 1988), and be listed alphabetically in the Reference section conforming to the Harvard style. Some typical examples follow:

(i) References from Journals:
 Anders, F.J. and Byrnes, M.R.(1991). “Accuracy of shoreline change rates as determined from maps and aerial photographs”, Shore and Beach, 59, pp. 17-26.

(ii) References from Books:
Foley, J.D., van Dam, A., Feiner, S. K. and Hughes, J.F. (1990), Computer Graphics – Principles and Practice, 2nd ed., Addison-Wesley, Reading, MA.

(iii) References from the technical material or research   literature: 
Smith, A. (1988). Colour photomapping. Report NRC-01-512. National Research Centre. Ottawa, Canada.

(iv) References from a web site:
desJardins, M. (2005). How to succeed in postgraduate  study, Applied Ecology Research Group, University of Canberra, viewed 26 April 2009, http://aerg.canberra.edu.au/jardins.t.htm.

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