Cost–benefit analysis and the environment

Anandarup Ray

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

Abstract: The thrust of the principles enunciated in Arrow et al. is that economic benefits and costs can be a great help in organizing disparate concerns, in identifying issues, and in designing regulatory policies and individual projects with environmental impact. While this true, I must disagree with the authors that 'formal benefit-cost analysis should not be viewed as either necessary or sufficient for designing sensible public policy' (p. 201). At least there can be little doubt that cost-benefit analysis is necessary for sensible policy. I comment below from the perspective of devloping countries.

Date: 1997
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