Benefit-cost analysis, environment, and health in the developed and developing world

David W. Pearce

Environment and Development Economics, 1997, vol. 2, issue 02, pages 195-221

Abstract: Arrow et al. revisit the case for using benefit-cost analysis in a developed country, the USA, where markets work reasonably efficiently and where the capacity to implement such studies is undoubted. Their recommendations deserve wholehearted support in that context, particularly their recommendation 1 calling for a comparison of gains and losses from regulatory actions. Those who have not worked in government will recognise that most decisions are not in fact made with any form of calculus that we might describe as 'cost benefit thinking'. Indeed, the whole process of policy priority setting is all too often ad hoc, reactive, crisis-based and over-responsive to often ill-informed pressure groups (of all kinds).

Date: 1997

Downloads: (external link)
http://journals.cambridge.org/abstract_S1355770X97250163 link to article abstract page (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:cup:endeec:v:2:y:1997:i:02:p:195-221_25

Access Statistics for this article

More articles in Environment and Development Economics from Cambridge University Press
Address: The Edinburgh Building, Shaftesbury Road, Cambridge CB2 2RU UK
Series data maintained by Mike Eden ().