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New Foundations Of Costbenefit Analysis,New
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Costbenefit Analysis (Cba) Has Been An Important Policy Tool Of Government Since The 1980S, When The Reagan Administration Ordered That All Major New Regulations Be Subjected To A Rigorous Test Of Whether Their Projected Benefits Would Outweigh Their Costs. Not Surprisingly, Cba Has Been Criticized By Many Who Claim That It Neglects, Especially On The Benefit Side, Important Values That Are Hard To Measure.In This Book, The Authors Reconceptualize Costbenefit Analysis, Arguing That Its Objective Should Be Overall Wellbeing Rather Than Economic Efficiency. They Show Why The Link Between Preferences And Wellbeing Is More Complicated Than Economists Have Thought. Satisfying A Person'S Preference For Some Outcome Is Welfareenhancing Only If He Or She Is Selfinterested And Wellinformed. Also, Costbenefit Analysis Is Not A Superprocedure But Simply A Way To Identify Welfaremaximizing Policies. A Separate Kind Of Analysis Is Required To Weigh Rights And Equal Treatment.This Book Not Only Places Costbenefit Analysis On A Firmer Theoretical Foundation, But Also Has Many Practical Implications For How Government Agencies Should Undertake Costbenefit Studies.
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This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.