Benefit estimation
DoCS has developed a benefit estimation database to help economists, researchers and practitioners identify the wide range of benefits associated with child protection and welfare initiatives and make better use of economic techniques to assess the monetary value of these benefits.
The database contains summary analyses of international and national child protection and welfare literature containing benefit estimations. It provides users with access to valuations of benefits for use in the economic evaluation of new program proposals.
In making appropriate public funding decisions through such programs, relative costs and benefits should be determined. While the costs associated with establishing these programs are often relatively easy to quantify, the benefits are less so, often leading to undue emphasis being placed on costs.This database seeks to address this imbalance and ensure the benefits of child protection and welfare services are fully understood and the techniques for valuing them are used appropriately.
using the information
Applying estimates from previous benefit estimations to new program proposals is called ‘benefit transfer’ and must be done in an informed manner.
Prior to applying the results of one program to a new program proposal, the design characteristics of the two programs should be compared. Data users should be aware of the differences in the characteristics between the programs, and that the values provided in one are only indicative of the potential benefit of a new program.
The benefit estimations in the original studies have been converted to 2008 Australian dollars and are expressed in per child units, where possible.
More information about benefit transfer can be found in the Benefit assessment technical report.
peer review
The database contains a summary of each study, with details of how it compares to an ‘ideal’ benefit estimation study. The summaries were subjected to a peer review by a panel of expert members with experience in the economics field:
- Richard Cox, NSW Treasury
- Matthew Roberts, NSW Treasury
- Ross Chapman, Centre for International Economics
- Professor Dodo Thampapillai, Macquarie University
DoCS has taken care to ensure the data presented in the benefit estimation database are an accurate representation of the source studies. However, DoCS accepts no responsibility for results obtained from their use by third parties.
further articles and feedback
DoCS will continually update the database as new research becomes available. If you are aware of articles which might make a useful contribution to this database, or wish to provide us with feedback on using the database, please send an email to economics@community.nsw.gov.au.
