Towards Principles and Standards for the Benefit-Cost Analysis of Safety
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Scott Farrow
Benefit-cost analysis (BCA) is frequently applied to decisions involving public safety which requires analyzing risk and assessing options to manage risks. Principles and standards may assist analysts, decision-makers, and the public in developing and interpreting such BCAs. Principles and standards at best represent commonly held views among a community of practice. Such views are continually evolving with advances in the field. This paper presents a modularized format towards principles and standards that may assist in focusing discussion and decisions about whether such proposals actually reflect principles and standards within the benefit-cost analysis community of practice. Among topics covered are welfare measures, benefit or cost transfer, and valuing uncertain outcomes.
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
Articles in the same Issue
- Article
- Risk Heterogeneity and the Value of Reducing Fatal Risks: Further Market-Based Evidence
- The Combination of Lab and Field Experiments for Benefit-Cost Analysis
- Benefit-Cost Analysis with Local Residents' Stated Preference Information: A Study of Non-Motorized Transport Investments in Pune, India
- Valuing the Benefit for Cancer Patients of Receiving Blood Transfusions at Home
- Principles and Standards
- Towards Principles and Standards for the Benefit-Cost Analysis of Safety
- Response or Comment
- Comment on Burgess and Zerbe: On Bank Market Power and the Social Discount Rate
- Comment on Burgess and Zerbe's "Appropriate Discounting for Benefit-Cost Analysis"
- Calculating the Social Opportunity Cost Discount Rate
Articles in the same Issue
- Article
- Risk Heterogeneity and the Value of Reducing Fatal Risks: Further Market-Based Evidence
- The Combination of Lab and Field Experiments for Benefit-Cost Analysis
- Benefit-Cost Analysis with Local Residents' Stated Preference Information: A Study of Non-Motorized Transport Investments in Pune, India
- Valuing the Benefit for Cancer Patients of Receiving Blood Transfusions at Home
- Principles and Standards
- Towards Principles and Standards for the Benefit-Cost Analysis of Safety
- Response or Comment
- Comment on Burgess and Zerbe: On Bank Market Power and the Social Discount Rate
- Comment on Burgess and Zerbe's "Appropriate Discounting for Benefit-Cost Analysis"
- Calculating the Social Opportunity Cost Discount Rate
