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New foundations of cost-benefit analysis

Author: Matthew D Adler; Eric A Posner
Publisher: Cambridge, Mass. : Harvard University Press, 2006.
Edition/Format:   Book : EnglishView all editions and formats
Database:WorldCat
Summary:
"Cost-benefit analysis (CBA) has been an important policy tool of government since the 1980s, when the Reagan administration ordered that all major new regulations be subjected to a rigorous test of whether their projected benefits would outweigh their costs. Not surprisingly, CBA has been criticized by many who claim that it neglects, especially on the benefit side, important values that are hard to measure. In
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Additional Physical Format: Online version:
Adler, Matthew D.
New foundations of cost-benefit analysis.
Cambridge, Mass. : Harvard University Press, 2006
(OCoLC)646989785
Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Matthew D Adler; Eric A Posner
ISBN: 0674022793 9780674022799
OCLC Number: 65187391
Description: x, 236 p. : ill. ; 25 cm.
Contents: The traditional view --
The moral foundation of cost-benefit analysis --
Cost-benefit analysis as a decision procedure --
Political oversight --
Distorted preferences --
Objections.
Responsibility: Matthew D. Adler, Eric A. Posner.
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Abstract:

Reconceptualizes cost-benefit analysis, arguing that its objective should be overall well-being rather than economic efficiency. This work shows why the link between preferences and well-being is  Read more...

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schema:description""Cost-benefit analysis (CBA) has been an important policy tool of government since the 1980s, when the Reagan administration ordered that all major new regulations be subjected to a rigorous test of whether their projected benefits would outweigh their costs. Not surprisingly, CBA has been criticized by many who claim that it neglects, especially on the benefit side, important values that are hard to measure. In this book, the authors reconceptualize cost-benefit analysis, arguing that its objective should be overall well-being rather than economic efficiency. They show why the link between preferences and well-being is more complicated than economists have thought. Satisfying a person's preference for some outcome is welfare-enhancing only if he or she is self-interested and well-informed. Also, cost-benefit analysis is not a super-procedure but simply a way to identify welfare-maximizing policies. A separate kind of analysis is required to weigh rights and equal treatment. This book not only places cost-benefit analysis on a firmer theoretical foundation, but also has many practical implications for how government agencies should undertake cost-benefit studies."--Publisher's website."
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schema:reviewBody""In this book, the authors reconceptualize cost-benefit analysis, arguing that its objective should be overall well-being rather than economic efficiency. They show why the link between preferences and well-being is more complicated than economists have thought. This book not only places cost-benefit analysis on a firmer theoretical foundation, but also has many practical implications for how government agencies should undertake cost-benefit studies."--BOOK JACKET."
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