Rules for the rulemakers: asymmetric information and the political economy of benefit-cost analysis

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-07-24 DOI:10.1007/s11149-024-09483-4

David Besanko, Avner A. Kreps, Clair Yang

引用次数: 0

Abstract

This paper presents a model of an executive administration that decides whether to mandate benefit-cost analysis (BCA) of newly proposed regulations. A regulator has private information about the social benefit of a new rule but may differ from the executive’s preferences for regulation. BCA, which provides a noisy signal of the rule’s social benefit, is most valuable when the executive is regulation neutral. Extremely regulation-averse administrations may be harmed by BCA unless they can bias it. Our results are consistent with use of BCA by U.S. presidential administrations since Reagan.

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规则制定者的规则：信息不对称与效益成本分析的政治经济学

本文提出了一个行政管理模型，该模型决定是否强制要求对新提出的法规进行收益-成本分析（BCA）。监管者拥有关于新法规社会效益的私人信息，但可能与行政部门的监管偏好不同。效益成本分析提供了规则的社会效益的噪声信号，在行政部门对监管持中立态度时，效益成本分析最有价值。极度厌恶监管的行政部门可能会受到 BCA 的损害，除非他们能够偏向 BCA。我们的研究结果与里根以来美国总统政府使用 BCA 的情况一致。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.