The use of formulae has become widespread in recent years across mostdeveloped countries. In the UK a conservative estimate is that annually 150billion of publi... » 

The use of formulae has become widespread in recent years across mostdeveloped countries. In the UK a conservative estimate is that annually 150billion of public service expenditure is distributed using formulae inservices such as health care local government social security and highereducation. This book offers a comprehensive introduction to the theory andpractice underlying the use of such formulae as a basis for funding publicservices.The philosophy design and economic consequences of funding formulae havebecome key policy issues worldwide. However till now there has been no textwhich brings together the economic statistical and political issues underlyingformula funding. This key book fills that gap.Written by a leading international expert on the design of funding formulaethis important book includes empirical evidence from a range of countries andwill be a valuable resource for all those involved in this field. «