Using Environmental Benefit-Cost Analysis to Improve Government Performance

Robert Farrow and Michael Toman ()

No 10598, Discussion Papers from Resources for the Future

Abstract: In this paper we first describe the legal and administrative basis of mandates that variously require and eschew economic measures for environmental management. We then summarize the steps involved in benefit-cost analysis and what can and cannot be accomplished with such information. Our basic conclusion is that while the approach is not perfect, benefit-cost analysis has a solid methodological footing and provides a valuable performance measure for an important governmental function, improving the well-being of society. However, benefit-cost analysis requires analytical judgements which, if done poorly, can obfuscate an issue or worse, provide a refuge for scoundrels in the policy debate. We conclude the article with specific suggestions for both the everyday performance of benefit-cost analysis and its use in policy decision-making.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 19
Date: 1998
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https://ageconsearch.umn.edu/record/10598/files/dp990011.pdf (application/pdf)

Related works:
Working Paper: Using Environmental Benefit-Cost Analysis to Improve Government Performance (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:rffdps:10598

DOI: 10.22004/ag.econ.10598

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