COST-BENEFIT ANALYSIS

1. an evaluative process which tries to judge and compare the economic adequacy of varying programs. Prices and advantages are decreased to their fiscal worth and displayed in a cost-benefit ratio. 2. with regard to behavioral ecology, a technique used to predict which behavioral plans are more apt to be adaptive by competing the possible prices and possible advantages of each plausible action. The actions that are thought to generate better advantages with regard to prices will also be the same actions that will persevere through natural selection.

COST-BENEFIT ANALYSIS: "The cost-benefit analysis dictated that less money should be spent on travel, and more money should be spent on advertising."
Cite this page: N., Pam M.S., "COST-BENEFIT ANALYSIS," in PsychologyDictionary.org, April 7, 2013, https://psychologydictionary.org/cost-benefit-analysis/ (accessed June 26, 2020).
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