The expectation that the government will respond to future circumstances, say bailing out a dictator to avoid a bloodbath, or raising taxes on immovable capital investments, often hinders the establishment of appropriate incentives for efficient behavior. The government's dilemma, simply, is...

Policy analyses frequently clash. Their disagreements stem from many sources, including models, empirical estimates, and values such as who should have standing and how different criteria should be weighted. We provide a simple taxonomy of disagreement, identifying distinct categories within...

This article examines the political economy of preferences with respect to the environment using a new stated preference survey that presents the first benefit values for national water quality levels. The mean valuation greatly exceeds the median value, as the distribution of valuations is...

Using a new series of data on occupational fatalities compiled by the National Institute for Occupational Safety and Health, the authors reassess value-of-life calculations based on labor market tradeoffs between fatality risks and wages. The new data are less subject to the problems of...

Since its inception, the Occupational Safety and Health Administration (OSHA) has been the target of regulatory reform proposals. OSHA has attracted this continued critical attention both because of inadequacies in the design of OSHA regulation and shortcomings in its implementation. John...

In 1974, President Ford initiated a procedure by which the regulatory policies of federal agencies were subjected to systematic oversight. This activity continued with modest success through subsequent administrations. A substantial stiffening of oversight powers under President Reagan raises...