Cost-Effectiveness and Cost-Benefit Analyses

​Cost-effectiveness or cost-benefit analyses offer policymakers a unique way to evaluate whether a particular policy or program is worthwhile.  NORC works to thoroughly identify and quantify all relevant costs and benefits, both direct and indirect.  To the extent possible, these are converted to a single metric for comparison purposes.  NORC staff also seeks to account for the vast uncertainties that can be present in this type of analysis by using sensitivity analyses, Monte Carlo simulations, or similar techniques.