Date of Original Version
Abstract or Description
Many economists see benefit-cost analysis as a rational, analytic tool that is neutral in its values. They assert that benefit-cost analysis is essential for complicated social issues. Our eloquence about the value of this framework has enabled us to convince Congress to write benefit-cost analysis into various laws and convinced President Reagan to embrace it. President Clinton has reaffirmed the Reagan order with minor changes.
Risks, Costs, and Lives Saved: Getting Better Results from Regulation, R.W. Hahn, Editor 1996, Oxford University Press and The AEI Press, 104-134.