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Is there a role for benefit-cost analysis in environmental, health, and safety regulation?

Published online by Cambridge University Press:  30 March 2001

KENNETH J. ARROW ,
MAUREEN L. CROPPER ,
GEORGE C. EADS ,
ROBERT W. HAHN ,
LESTER B. LAVE ,
ROGER G. NOLL ,
PAUL R. PORTNEY ,
MILSON RUSSELL ,
RICHARD SCHMALENSEE  and
V. KERRY SMITH
...Show all authors
KENNETH J. ARROW
Affiliation:
Department of Economics, Stanford University, Stanford, CA 94305, USA
MAUREEN L. CROPPER
Affiliation:
The World Bank, 1818 H Street, NW, Washington, DC 20433, USA
GEORGE C. EADS
Affiliation:
Charles River Associates, 1001 Pennsylvania Avenue, NW, Washington, DC 20004, USA
ROBERT W. HAHN
Affiliation:
American Enterprise Institute, 1150 17th Street, NW, Washington, DC 20036, USA
LESTER B. LAVE
Affiliation:
Graduate School of Industrial Organization, Carnegie Mellon University, Pittsburgh, PA 15213, USA
ROGER G. NOLL
Affiliation:
Department of Economics, Stanford University, Stanford, CA 94305, USA
PAUL R. PORTNEY
Affiliation:
Resources for the Future, 1616 P Street, NW, Washington, DC 20036, USA
MILSON RUSSELL
Affiliation:
Department of Economics, University of Tennessee, Knoxville, TN 37996, USA
RICHARD SCHMALENSEE
Affiliation:
Sloan School of Management, Massachusetts Institute of Technology, Cambridge, MA 02139, USA
V. KERRY SMITH
Affiliation:
Duke University, Durham, NC 27708, USA
ROBERT N. STAVINS
Affiliation:
John F. Kennedy School of Government, Harvard University, Cambridge, MA 02138, USA
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Abstract

The growing impact of regulations on the economy has led both Congress and the Administration to search for new ways of reforming the regulatory process. Many of these initiatives call for greater reliance on the use of economic analysis in the development and evaluation of regulations. One specific approach being advocated is benefit-cost analysis, an economic tool for comparing the desirable and undesirable impacts of proposed policies.

Type
Policy Forum
Information
Environment and Development Economics , Volume 2 , Issue 2 , May 1997 , pp. 195 - 221
Copyright
© 1997 Cambridge University Press

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Footnotes

Reprinted with permission from Science 272: 221-222. Copyright 1996, American Association for the Advancement of Science.