On Turvey's Benefit-Cost "Short-Cut": A Study of Water Meters
验证了Turvey提出的效益-成本分析简化方法，并将其应用于澳大利亚珀斯市1976-1977财年水表安装的效益与成本评估，为水表安装决策提供了经济分析工具。
Ralph Turvey (1974) presented a short-cut procedure for the conduct of benefit-cost analysis. In his article, Turvey stated: My aim is to restate received doctrine in a way which is simpler and intuitively more acceptable than the exposition in most of the relevant literature (Turvey 1974, p. 825). The purpose of this note is to demonstrate the validity of Turvey's assertion. We accomplish this by first adapting Turvey's procedure to the specific problem of measuring the benefits and costs of water meter installation. Then we apply it to the case of Perth, Australia, for the fiscal year 1976-1977. The real marginal costs of water are increasing in most parts of the world. As a result, water conservation policies have become important issues and frequent media topics.1 Water metering, an important conservation measure, has received attention but only ersatz economic analysis.2 We overcome this problem by adapting Turvey's benefitcost model and applying it to the metering decision in Perth. Our problem is first to adapt the model presented by Turvey so that it can be used to evaluate the benefits and costs of water meter installation. When meters are installed, the price per m3 increases from zero (P0) to a positive level (P1) and the quantity of water used is reduced from Q0 to Q1. This reduction in water use represents a loss or cost to consumers, and its value is given by: