The growing impact of regulations on the economy has led both Congress and the administration to search for new ways of reforming regulation. One of the central issues in the debate is the use of benefit-cost analysis in environmental, health, and safety regulation. In an effort to develop a consensus view on that controversial subject, the American Enterprise Institute, the Annapolis Center, and Resources for the Future cosponsored a meeting of many of the leading economists in the field. This primer highlights the set of consensus principles that emerged from that meeting.
Benefit-Cost Analysis in Environmental Health and Safety Regulation: A Statement of PrinciplesJames F. Kasting, Peter A. Schultz, K. J. Arrow, M. L. Cropper, G. C. Eads, R. W. Hahn, L. B. Lave, R. G. Noll, P. R. Portney, M. Russell, R. Schmalensee, V. K. Smith, and R. N. Stavins ,