Quality Science for Quality Decisions: Protecting the Scientific Integrity of Benefit–Cost Analysis

Al McGartland

Review of Environmental Economics and Policy, 2021, vol. 15, issue 2, 340 - 351

Abstract: Benefit–cost analysis (BCA) provides important science to inform regulatory decision-making. Ideally, the BCA should be based on science, including economics. However, the prominent role of BCA in the policy-making process also creates an incentive to adopt practices that produce results that support a preferred policy. Indeed, rather than informing decision-making, BCA can become a tool for justifying a decision that is made by manipulating results in ways contrary to good science. This article identifies two challenges that threaten the scientific integrity of a BCA because they allow normative and policy judgments to enter into the BCA. The article concludes by identifying actions to help protect the scientific integrity of BCA.

Date: 2021
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