By Judith D. Bentkover (auth.), Judith D. Bentkover, Vincent T. Covello, Jeryl Mumpower (eds.)
In fresh years there was titanic curiosity in advantages evaluate equipment, in particular as those equipment are used to evaluate healthiness, defense, and environmental matters. at the very least a part of this curiosity might be traced to govt Order 12291, issued via President Ronald Reagan in 1981. This government Order calls for Federal organizations to accomplish merits exams of professional posed significant rules and prohibits them from taking regulatory motion until power merits exceed strength charges to society. Heightened curiosity in advantages review equipment has in tum given upward push to larger reputation of the inherent problems in appearing such verify ments. for instance, many merits which are intuitively felt to be most vital also are one of the so much tough to degree. it may be tough to spot the total variety of either advantages and prices. the alternative of an appro priate fee for evaluating merits and prices through the years is proble matic. even if merits are quantifiable in precept and contract could be reached on their valuation, required d,ata is probably not to be had. therefore enormous uncertainty is outfitted into such a lot gain estimates, even if they're in accordance with the simplest to be had facts. In gentle of the complexities and problems linked to the practice ance of a merits overview, this publication experiences the present nation of theoretical and methodological wisdom within the box. The evaluate is vast in that it covers over fifty years of analysis, theoretical boost ment, and practice.
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Additional info for Benefits Assessment: The State of the Art
BCA has generally accepted the use of a present-value criterion for temporal aggregation. Two aspects of this simplication should be identified. First, BCA generally assumes that preferences do not change over time. Future generations' preferences for a clean environment, flood protection, or energy security are assumed to be the same as today's. Of course, as a practical matter, many (and certainly most ofthe early) BCAs involve time horizons that do not extend beyond one generation. Thus, this issue concerns whether we assume an individual's preferences change over his lifetime.
1981. ' Journal of Environmental Economics and Management 8: 215-237. - - - and Anthony C. Fisher. 1976. ' Kennedy School Discussion Paper No. 41D. Harvard University. Zeleny, Milan. 1982. Multiple Criteria Decisionmaking. New York: Wiley. Chapter 3 Benefits Assessment for Regulatory Problems Howard Kunreuther and Lisa Bendixen This chapter is concerned with the role of benefits assesment within the regulatory decision-making framework for public policy problems involving risk. The basis of most government regulation is to minimize risks and detrimental economic impacts.
Peskin and Eugene P. Seskin, eds. Washington, D. : The Urban Institute. Bradford, David F. 1970. ' Kyklos 23: 1145-1159. - - - . 1975. ' American Economic Review 65: 887--895. Cohon, Jahred L. 1978. Multi-Objective Programming and Planning. New York: Academic Press. Crouch, E. A. C. and R. Wilson. 1982. Risk/Benefit Analysis. Cambridge: Ballinger. , David S. Brookshire, and William D. Schulze. 1984. ' Unpublished draft monograph. University of New Mexico. Dasgupta, Partha, Stephen Marglin, and A.