Incorporating Equity in Regulatory and Benefit-Cost Analysis Using Risk Based Preferences
Robert Farrow ()
No 09-117, UMBC Economics Department Working Papers from UMBC Department of Economics
Governmental guidance for regulatory and benefit-cost analysis is targeted for applied analysts. Existing Federal guidance recommends sensitivity analysis in general without being specific regarding the implicit distributional assumptions of standard benefit-cost analysis. Recommendations for Federal guidance are developed to: 1) better communicate expectations for distributional analysis, 2) develop guidance for descriptive statistics related to distributional issues, and 3) integrate Government published measures of inequality aversion and to evaluate compensation for identified sensitive populations. While such actions have a data collection and analysis cost, they may make the results of regulatory analysis more relevant by investigating both efficiency and equity measures.
Keywords: benefit; risk; equity; distribution; income (search for similar items in EconPapers)
JEL-codes: H5 I3 (search for similar items in EconPapers)
Pages: 21 pages
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Persistent link: https://EconPapers.repec.org/RePEc:umb:econwp:09117
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