'Best Practice' Standards for Regulatory Benefit-Cost Analysis

Research in Law and Economics

Volumn 23, Issue , 2007, Pages 1-47

  Cole, Daniel H ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 34547741084     PISSN: 01935895     EISSN: None     Source Type: Book Series    
DOI: 10.1016/S0193-5895(07)23001-5     Document Type: Review

References (76)

1. Ackerman F., and Heinzerling L. Priceless: On knowing the price of everything and the value of nothing (2004), The Free Press, New York
2. Adler M.D., and Posner E.A. Rethinking cost-benefit analysis. Yale Law Journal 109 (1999) 165-247
3. Adler M.D., and Posner E.A. New foundations of cost-benefit analysis (2006), Harvard University Press, Cambridge, MA
4. Alberini, A., Cropper, M., Krupnick, A., & Simon, N. B. (2002). Does the value of a statistical life vary with age and health status? Evidence from the United States and Canada. Resources for the Future Discussion Paper 02-19 (April).
5. Aldy, J. E., & Viscusi, W. K. (2006). Adjusting the value of a statistical life for age and cohort effects. Resources for the Future Discussion Paper 06-19 (April).
6. Arrow K.J. Social choice and individual values (1951), Yale University Press, New Haven
7. Arrow K.J., Solow R., Portney P.R., Leamer E.E., Radner R., and Schuman H. Report of the NOAA panel on contingent valuation. Federal Register 58 10 (1993) 4601-4614
8. Arrow K.J., Cropper M.L., Eads G.C., Hahn R.W., Lave L.B., Noll R.G., Portney P.R., Russell M., Schmalensee R., Smith V.K., and Stavins R.N. Is there a role for benefit-cost analysis in environmental, health, and safety regulation?. Science 272 (2006) 221-222
9. Arrow K.J., and Fischer A.C. Environmental preservation, uncertainty and irreversibility. Quarterly Journal of Economics 88 (1974) 1-9
10. Ashenfelter, O. (2006). Measuring the value of a statistical life: Problems and prospects. National Bureau of Economic Research Working Paper 11916 (January).
11. Bagley N., and Revesz R.L. OMB and the centralized review of regulation. Law and Economics Research Paper Series, Working Paper No. 05-16 (2005), New York, University School of Law
12. Baumol W.J. On the social rate of discount. American Economic Review 58 (1968) 788-802
13. Bertelli A. Developing a common law of cost benefit analysis: A rational choice institutional analysis. Journal of Law & Politics 15 (1999) 717-745
14. Carson, R. T., Hanemann, W. M., Kopp, R. J., Krosnick, J. A., Mitchell, R. C., Presser, S., Ruud, P. A., & Smith, V. K. (1996). Was the NOAA Panel correct about contingent valuation? Resources for the Future Discussion Paper 96-20.
15. Cole D.H., and Grossman P.Z. Principles of Law and Economics (2005), Pearson/Prentice-Hall, Upper Saddle River, NJ
16. Cowen T., and Parfit D. Against the social discount rate. In: Laslett P., and Fishkin J.S. (Eds). Justice between age groups and generations (1992), Yale University Press, New Haven 144-168
17. Croote, T. (1999). CRS Report for Congress: Cost-benefit analysis of EPA regulations: An overview (September 16).
18. Dasgupta P., Mäler K.-G., and Barrett S. Intergenerational equity, social discount rates, and global warming. In: Portney P.R., and Weyant J.P. (Eds). Discounting and intergenerational equity (1999), Resources for the future, Washington, DC 51-77
19. Devine R.S. Bush versus the environment (2004), Anchor Books, New York
20. Driesen D.M. Is cost-benefit analysis neutral?. University of Colorado Law Review 77 (2006) 335-404
21. EPA. Guidelines for performing regulatory impact analysis. (December) (1983), Environmental Protection Agency, Washington, DC
22. EPA. The benefits and costs of the Clean Air Act, 1970-1990. (October) (1997), Environmental Protection Agency, Washington, DC
23. EPA. Guidelines for preparing economic analyses. (January) (Jan. 2000), Environmental Protection Agency, Washington, DC
24. Farber D.A., and Hemmersbaugh P.A. The shadow of the future: Discount rates, later generations, and the environment. Vanderbilt Law Review 46 (1993) 267-304
25. GAO. Air pollution: Information contained in EPA's regulatory impact analyses can be made clearer. (April) (1997), General Accounting Office, Washington, DC
26. GAO. OMB's role in review of agency rules and the transparency of those reviews (2003), General Accounting Office, Washington, DC
27. Garen J. Compensating wage differentials and the endogeneity of job riskiness. The Review of Economics and Statistics 70 (1988) 9-16
28. Hahn R.W., Burnett J.K., Chan Y.-H.I., Mader E.A., and Moyle P.R. Assessing regulatory impact analysis: The failure of agencies to comply with executive order 12,866. Harvard Journal of Law and Public Policy 23 (2000) 859-885
29. Hahn R.W., and Sunstein C.R. A new executive order for improving federal regulation? Deeper and wider cost-benefit analysis. University of Pennsylvania Law Review 150 (2002) 1489-1552
30. Heinzerling L. Regulatory costs of mythic proportion. The Yale Law Journal 107 (1998) 1981-2036
31. Her Majesty's Treasury. Greenbook, appraisal and evaluation in central government (2003), Her Majesty's Treasury, London
32. International Chemical Secretariat. (2004). Cry Wolf - Predicted costs by industry in the face of new regulations. International Chemical Secretariat Report 6:04 (April).
33. Jevons S. The theory of political economy (1941[1871]), MacMillan, London
34. Johannesson M., and Johansson P.-O. To be or not to be? That is the question: An empirical study of the WTP for an increased life expectancy at an advanced age. Journal of Risk and Uncertainty 13 (1996) 163-174
35. Keynes J.M. A tract on monetary policy (2000[1923]), Prometheus Books, London
36. Kneisner T.J., and Leeth J.D. Compensating wage differentials for fatal injury risk in Australia, Japan, and the United States. Journal of Risk and Uncertainty 4 (1991) 75-90
37. Kopp, R. J., Krupnick, A. J., & Toman, M. (1997). Cost-benefit analysis and regulatory reform: An assessment of the state of the art. Resources for the future discussion Paper 97-19 (January).
38. Laitos J.G., Zellmer S.B., Wood M.C., and Cole D.H. Natural resources law (2006), West Publishing, Minneapolis
39. Lind R.C. Reassessing the government's discount rate policy in light of new theory and data in an economy with a high degree of capital mobility. Journal of Environmental Economics and Management 18 (1990) s-8-s-28
40. Lowenstein L.J., and Revesz R.L. Anti-regulation under the guise of rational regulation: The Bush Administration's approaches to valuing human lives in environmental cost-benefit analyses. Environmental Law Reporter 34 (2004) 10954-10974 November
41. McCarthy J.E. CRS Report for Congress: Mercury emissions from electric power plants: An analysis of EPA's cap-and-trade regulations. (April 15) (2005), Congressional Research Service, Washington, DC
42. McCarthy J.E., and Parker L.B. CRS Report for Congress: Costs and benefits of clear skies: EPA's analysis of multi-pollutant clean air bills. (November 23) (2005), Congressional Research Service, Washington, DC
43. Menell P.S., and Stewart R.B. Environmental Law and Policy (1994), Little, Brown, New York
44. Mercuro N., and Medema S.G. Economics and the law: From Posner to post-modernism (1997), Princeton University Press, Princeton, NJ
45. Mooney C. The Republican war on science (2005), Basic Books, New York
46. Moore M.J., and Viscusi W.K. The quantity-adjusted value of life. Economic Inquiry 26 (1988) 369-388
47. Moore M.J., and Viscusi W.K. Discounting environmental health risks: New evidence and policy implications. Journal of Environmental Economics and Management 18 (1990) S51-S62
48. Moore M.J., and Viscusi W.K. Models for estimating discount rates for long-term health risks using labor market data. Journal of Risk and Uncertainty 3 (1990) 381-401
49. Morgenstern R.D. The legal and institution setting for economic analysis at EPA. In: Morgenstern R.D. (Ed). Resources for the future (1997), Economic analyses at EPA, Washington, DC 5-24
50. Morgenstern, R. D., Harrington, W., & Nelson, P. -K. (1999). On the accuracy of regulatory cost estimates. Resources for the future discussion paper 99-18.
51. Morrison E.R. Judicial review of discount rates used in regulatory cost-benefit analysis. University of Chicago Law Review 65 (1998) 1333-1369
52. Novak W.J. Public economy and the well-ordered market: Law and economic regulation in 19th-Century America. Journal of Law and Social Inquiry 18 (1993) 1-32
53. OMB. Economic analysis of federal regulations under executive order 12866. (January 11) (1996), President's Office of Management and Budget, Washington, DC
54. OMB. Report to Congress on the costs and benefits of federal regulations. (September) (1998), President's Office of Management and Budget, Washington, DC
55. OMB. Informing regulatory decisions: 2003 Report to Congress on the costs and benefits of federal regulations and unfunded mandates on state, local, and tribal entities (2003), President's Office of Management and Budget, Washington, DC
56. Parfit D. Reasons and persons (1984), Oxford University Press, New York
57. Parker R.W. Grading the government. University of Chicago Law Review 70 (2003) 1345-1486
58. Parker R.W. The empirical roots of the "Regulatory Reform" movement: A critical appraisal. Administrative Law Review 58 (2006) 359-400
59. Pearce D., et al. Valuing the future: Recent advances in social discounting. World Economics 4 (2003) 121-141
60. Pindyk, R. S. (2006). Uncertainty in environmental economics. NBER Working Paper 12752 (December).
61. Portney P.R., and Weyant J.P. Introduction. In: Portney P.R., and Weyant J.P. (Eds). Discounting and intergenerational equity (1999), Resources for the future, Washington, DC 1-11
62. Posner E.A. Controlling agencies with cost-benefit analysis: A positive political theory perspective. University of Chicago Law Review 68 (2001) 1137-1199
63. Poulos C., and Whittington D. Time-preference for life saving programs: Evidence from six less developed countries. Environmental Science and Technology 34 (2000) 1445-1455
64. Ramsey F.P. A mathematical theory of saving. Economic Journal 38 (1928) 543-549
65. Revesz R.L. Environmental regulation, cost-benefit analysis, and the discounting of human lives. Columbia Law Review 99 (1999) 941-1017
66. Schelling T.C. Intergenerational discounting. In: Portney P.R., and Weyant J.P. (Eds). Discounting and intergenerational equity (1999), Resources for the future, Washington, DC 99-101
67. Schultze C.L. The public use of private interest (1977), The Brookings Institution, Washington, DC
68. Schwartz E.S., and Trigeorgis L. Real options and investment under uncertainty (2001), MIT Press, Cambridge, MA
69. Smith V.K., Kim H., Taylor Jr., and Donald H. Do the 'Near'-elderly value mortality risks differently?. The Review of Economics and Statistics 86 (2004) 423-429
70. Sunstein C.R. Cost-benefit default principles. Michigan Law Review 99 (2001) 1651-1723
71. Viscusi, W. K. (2006). Monetizing the benefits of risk and environmental regulation. AEI-Brookings Joint Center for Regulatory Studies Working Paper 06-09.
72. Viscusi, W. K., & Huber, J. (2006). Hyperbolic discounting of public goods, Harvard: John M. Olin Center for Law, Economics, and Business, Discussion Paper No. 543.
73. Weitzman M. Gamma discounting. American Economic Review 9 (2001) 260-271
74. Zaring D. Best practices. New York University Law Review 81 (2006) 294-350
75. Zerbe R.O. Economic efficiency in law and economics (2001), Edward Elgar, Cheltenham, UK
76. Zerbe R.O. Should moral sentiments be incorporate into benefit-cost analysis? An example of long-term discounting. Policy Sciences 37 (2004) 305-318