This is a substantially revised, refocused, and updated version of an earlier draft paper, exploring the significant role Cost-Benefit Analysis (CBA) plays in facilitating or impeding legislative and regulatory policy decisions. The paper centers around three case studies of CBAs EPA prepared...

Environmental, health, and safety advocates, say Richard Revesz and Michael Livermore, have been wrongly hostile to cost-benefit analysis because of a false belief that it is biased against regulation. The bias against regulation, while real, has been the artifact of historical accident - the...

This updated draft paper explores the significant role Regulatory Cost-Benefit Analysis (RCBA) plays in facilitating or impeding collective action. Through case studies, the paper shows that well-constructed RCBAs have (1) facilitated collective action (including in cases where explicit...

As EPA rolls out controversial regulations on power plant emissions of greenhouse gases, a vocal group of legislators, industry groups, and legal and economic scholars are crying foul, arguing that EPA didn't “follow the rules” when it conducted its cost-benefit analyses of these...

In the United States insurance is regulated both by state insurance commissions and class action litigation. The interaction of these two systems has not been extensively studied. We examine four different facets of the regulation litigation tradeoff. The first is to examine whether a...

Agencies are accustomed to considering questions of discounting — the process that makes monetary amounts comparable through time. But valuing the future is a distinctive enterprise for reasons that go beyond discounting. This Article explores two basic features of time that create challenges...

The social discount rate used in cost-benefit analysis (CBA) is an interest rate applied to benefits and costs that are expected to occur in the future in order to convert them into a present value. This conversion is done to ascertain what those benefits and costs are worth today. The social...

The paper aims to evaluate how the anticorruption strategies lead to minimizing the corruption phenomenon in the public organizations, with special reference to those from public administration and health system in Romania. Based on some essential features, stated by Banfield (1975) about the...

Under the doctrine of vicarious liability, a deep-pocket principal is often held responsible for a third-party harm caused by a judgment-proof agent's negligence. We analyze the incentive contract used by the principal to control the agent's behavior when a court can make an error in determining...