Imagine that you completed the first three steps in CBA set out in Chapter 1. You have identified the alternative policies, determined standing, and catalogued the relevant impacts with appropriate units of measure. Next you must predict the impacts of each alternative and monetize them. As mentioned in Chapter 1, sometimes prediction and monetization can be done together (for example, when a demand curve is available), but often they must be done separately (for example, when a policy potentially affects health or crime rates).
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