Scalia, demonstrating his propensity for revisionist history, neglected to note that the EPA actually did complete a thorough cost-benefit
analysis - more than once, in fact, during the years that it took to complete the regulatory process.
analysis, many industry groups have largely abandoned their commitment to weighing environmental benefits against economic costs.
The entire process took longest with the rules involving cost-benefit
analyses, and the economically significant rules had a combined cost of $7 billion and benefits of $11 billion.
The study, States' Use of Cost-benefit
Analysis: Improving Results for Taxpayers, comes at a time when states are under continuing pressure to direct limited dollars toward the most cost-effective programs and policies while curbing spending on those that do not deliver.
In recent years, state officials have become increasingly interested in cost-benefit
analysis in large part because of the experience in Washington.
ACTIVIST ANALYSIS If Sunstein aims to implement a kinder, gentler approach to cost-benefit
analysis, Retaking Rationality by New York University's Richard Revesz and Michael Livermore could well serve as his how-to guide.
Support for such cost-benefit
approaches as the widely condemned "senior discount" method for undervaluing the lives of seniors in cost-benefit
analyses, an approach even the Bush Administration was forced to disown;
analyses aren't done more often because they serve a very limited purpose, and even then only if they're done well.
This thin but cogent volume addresses a range of controversies in the field of regulatory analysis, including the importance (or unimportance) of individual rights and nonmonetary values as they relate to the use of cost-benefit
analysis in decisionmaking.
To justify this cost-benefit
approach, IHEs that typically hold their buildings for longer than the designed life spans need to manage a process of cross-analysis among the fund allocations to create incentives for departments of capital planning, design/ construction, and maintenance to make integrated, strategic decisions.
The most notable trend in this area has been OIRA's insistence on converting technology-based environmental laws into cost-benefit
To help address the controversy that still simmers over how, or whether, to assign a specific value to effects such as degraded human health, OIRA and several federal agencies asked a committee of the National Academies' Institute of Medicine (IOM) to weigh in with guidance on one type of cost-benefit
analysis, called cost-effectiveness analysis (CEA), which can include calculations of the dollar value of human life and which was included in Circular A-4.
Trade and Industry Secretary Alan Johnson has commissioned an independent economic cost-benefit
analysis to assess the impact of any relaxation of Sunday trading laws.
Economic payoffs Cost-benefit
analyses compared measurable benefits--such as reductions in crime costs, public school costs and welfare spending; and participants' increases in earnings and taxes paid on earnings--to total program cost.
Management's challenge is to recognize that the usefulness of solutions from a cost-benefit
analysis is only part of the game.