A study examined the feasibility of performing a national cost-benefit analysis of secondary, postsecondary, and adult vocational education. The study involved three components: a survey of the state of the art of utilizing cost-benefit methodologies to evaluate the returns on investments in vocational education; an overview of the potential measurement problems in performing a national study and strategies to overcome or minimize these problems; and a Delphi analysis soliciting input from technical experts (including economists, vocational educators, mathematicians, and Department of Education staff) on the desirability and feasibility of various components of a proposed cost-benefit model of vocational education. While data from these three sources suggest that a national cost-benefit study of vocational education is technically feasible, there are numerous limitations in specifying the relationship between vocational education costs and benefits. These limitations involve analytical evaluation techniques that relate costs to benefits, methods for measuring costs and benefits, and characteristics of vocational education. Included in the appendixes are abstracts of relevant items from the literature search; bibliographies; and the Delphi survey package, survey results, and panelist comments. (Related reports on individual components of the project are available separately through ERIC--see note.) (MN)