Journal of Benefit-Cost Analysis最新文献_第4页

Promoting Equity through Equitable Risk Tradeoffs 通过公平的风险权衡促进公平

IF 3.4 4区经济学

Journal of Benefit-Cost Analysis Pub Date : 2023-03-31 DOI: 10.1017/bca.2023.4

T. Kniesner, W. Viscusi

{"title":"Promoting Equity through Equitable Risk Tradeoffs","authors":"T. Kniesner, W. Viscusi","doi":"10.1017/bca.2023.4","DOIUrl":"https://doi.org/10.1017/bca.2023.4","url":null,"abstract":"Abstract The impact and economic merits of President Biden’s Executive Order 13985 on equity depend on how the executive order is implemented. While policy discussion to date has focused on equitable outcomes, we propose framing risk equity policies in terms of equitable risk tradeoff rates based on six policy guidelines. The starting point for ex ante evaluation of equity for mortality risk policies should be the symmetric application of the value of a statistical life (VSL) to all groups. Because of the substantial heterogeneity in VSLs by income and demographic characteristics, symmetric tradeoff rates generate subsidies and deficits relative to private values of risk. Efforts to provide for distributional preferences should be grounded in an understanding of the differentials already provided through application of a uniform VSL. Targeting government programs to specific groups ex ante should be coupled with estimates of the efficiency loss based on symmetric tradeoff rates and the implicit tradeoff rate ratio relative to the average VSL needed to support the redistributive policy. Here, we propose equity guidance that could be incorporated in a revised version of Office of Management and Budget Circular A-4. We contrast the ex ante equity guidance approach with the ex post risk equity evaluation procedure that is incorporated in the Biden Administration’s recently proposed Justice40 plan, where 40% of the benefits of existing programs must be targeted to certain minority groups without ex post examination of their cost effectiveness either feasible or currently planned.","PeriodicalId":45587,"journal":{"name":"Journal of Benefit-Cost Analysis","volume":" 54","pages":"8 - 34"},"PeriodicalIF":3.4,"publicationDate":"2023-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72379535","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

The Net Benefits and Residual Cost from U.S. Border Management of the Initially Inadmissible 美国边境管理的净收益和剩余成本

IF 3.4 4区经济学

Journal of Benefit-Cost Analysis Pub Date : 2023-02-28 DOI: 10.1017/bca.2023.2

S. Farrow

引用次数: 0

Inequality and the Value of a Statistical Life 不平等和统计生命的价值

IF 3.4 4区经济学

Journal of Benefit-Cost Analysis Pub Date : 2023-02-21 DOI: 10.1017/bca.2023.7

C. Sunstein

引用次数: 4

All Cancers Are not Created Equal: How Do Survival Prospects Affect the Willingness to Pay to Avoid Cancer? 并非所有癌症都是平等的:生存前景如何影响为避免癌症而付费的意愿?

IF 3.4 4区经济学

Journal of Benefit-Cost Analysis Pub Date : 2023-01-17 DOI: 10.1017/bca.2022.21

A. Alberini, C. Rheinberger, Milan Ščasný

{"title":"All Cancers Are not Created Equal: How Do Survival Prospects Affect the Willingness to Pay to Avoid Cancer?","authors":"A. Alberini, C. Rheinberger, Milan Ščasný","doi":"10.1017/bca.2022.21","DOIUrl":"https://doi.org/10.1017/bca.2022.21","url":null,"abstract":"Abstract Regulatory impact analyses of proposed environmental, occupational, and consumer product safety regulations often rely on a metric known as the Value per Statistical Case of Cancer (VSCC), that is, the public’s willingness to pay (WTP) for reductions in the risk of developing cancer. In this paper, we ask whether the VSCC depends on cancer survival prospects. We develop a simple theoretical model that shows that under standard assumptions the VSCC is decreasing in the chance of surviving cancer. We empirically test this prediction by means of a stated preference survey, where we ask subjects aged 45–60 from the general population in the Czech Republic to report information about their WTP for reductions in the risk of getting cancer. One half of the sample was told that, if they got cancer, the 5-year survival rate was 60 % (corresponding to the average survival chances across all types of cancer), while the other half was told that it was 75 %. Consistent with the theoretical model, we find that the VSCC is larger in the former group. The ratio between the VSCC of the two groups is approximately equal to the ratio between the conditional cancer mortality risks implied by the survey’s survival rates, suggesting that the VSCC is proportional to conditional cancer mortality. Our findings have important policy implications in the context of regulations that focus on pollutants linked to cancers with different chances of survival.","PeriodicalId":45587,"journal":{"name":"Journal of Benefit-Cost Analysis","volume":"53 3","pages":"93 - 113"},"PeriodicalIF":3.4,"publicationDate":"2023-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72629182","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

BCA volume 14 issue 2 Cover and Front matter BCA第14卷第2期封面和封面问题

4区经济学

Journal of Benefit-Cost Analysis Pub Date : 2023-01-01 DOI: 10.1017/bca.2023.36

引用次数: 0

Seven Recommendations for Pricing Greenhouse Gas Emissions 关于温室气体排放定价的七项建议

4区经济学

Journal of Benefit-Cost Analysis Pub Date : 2023-01-01 DOI: 10.1017/bca.2023.31

Arthur G. Fraas, John D. Graham, Kerry M. Krutilla, Randall Lutter, Jason F. Shogren, Linda Thunström, W. Kip Viscusi

引用次数: 0

Discounting in Natural Resource Damage Assessment 自然资源损害评估中的贴现

IF 3.4 4区经济学

Journal of Benefit-Cost Analysis Pub Date : 2022-11-22 DOI: 10.1017/bca.2022.24

Eric J. Horsch, D. Phaneuf, C. Giguere, Jason H. Murray, Cameron Duff, Cole Kroninger

{"title":"Discounting in Natural Resource Damage Assessment","authors":"Eric J. Horsch, D. Phaneuf, C. Giguere, Jason H. Murray, Cameron Duff, Cole Kroninger","doi":"10.1017/bca.2022.24","DOIUrl":"https://doi.org/10.1017/bca.2022.24","url":null,"abstract":"Abstract The goal of natural resource damage assessment (NRDA) is to compensate the public for losses to natural resources from past or ongoing hazardous releases, including losses that may persist into the future. Compensation is delivered in the form of restoration projects. Resolving NRDA liability requires balancing losses and restoration benefits over multiple decades and converting them into a present value for calculating appropriate damages. For the past two decades, NRDA practitioners have used a real discount rate of 3 % to convert losses and benefits to a present value equivalent. That rate was based, in part, on real historical yields on risk-free debt (e.g., the real rate of return on 3-month Treasury bills). Declining interest rates on risk-free debt in recent years has led to suggestions to reexamine the historical consensus discount rate. This paper reviews two alternative conceptual paradigms for selecting a discount rate in NRDA cases: the social rate of time preference and discount rates for tort cases. We summarize historical data for empirically implementing the two paradigms and discuss the ramifications of the different options. Based on our review, we suggest maintaining the 3 % consensus as a practical solution to a range of empirical candidates within the two conceptual paradigms.","PeriodicalId":45587,"journal":{"name":"Journal of Benefit-Cost Analysis","volume":"26 1","pages":"141 - 161"},"PeriodicalIF":3.4,"publicationDate":"2022-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89162943","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Paying a Premium for “Green Steel”: Paying for an Illusion? 为“绿色钢铁”付费:为错觉付费?

IF 3.4 4区经济学

Journal of Benefit-Cost Analysis Pub Date : 2022-11-02 DOI: 10.1017/bca.2022.20

P. Johansson, B. Kriström

{"title":"Paying a Premium for “Green Steel”: Paying for an Illusion?","authors":"P. Johansson, B. Kriström","doi":"10.1017/bca.2022.20","DOIUrl":"https://doi.org/10.1017/bca.2022.20","url":null,"abstract":"Abstract The iron and steel industry generates around 10 % of global greenhouse gas emissions. The bulk of the emissions originates from the iron ore reduction. In this reduction, coal is used as a reagent. Steelmakers could switch to hydrogen-based direct reduction using hydrogen instead of coal as a reagent to reduce iron ore to pig iron. This would eliminate the CO2 emissions from the equivalent process in a traditional blast furnace. However, the process requires massive amounts of electricity. This paper looks at the economics of such a switch to “green steel.” We assess a marginal increase in the production of a hypothetical green steelmaker. We also undertake an investment appraisal of a green plant, based on an ongoing installation in Northern Sweden, but also briefly consider a possible/planned investment in the US. This appraisal is complemented by computing the survival function for the net present value in a systematic sensitivity analysis. It seems highly unlikely that a green steel plant can be socially profitable. If the green plant displaces conventional steel produced within the European Union’s cap-and-trade system for greenhouse gases, total emissions remain more or less unaffected; permits and emissions are simply reshuffled. Hence, if end-users of green steel pay a premium, they might pay for an illusion.","PeriodicalId":45587,"journal":{"name":"Journal of Benefit-Cost Analysis","volume":"6 1","pages":"383 - 393"},"PeriodicalIF":3.4,"publicationDate":"2022-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77079942","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Risk Perception, Learning, and Willingness to Pay to Reduce Heart Disease Risk 降低心脏病风险的风险感知、学习和支付意愿

IF 3.4 4区经济学

Journal of Benefit-Cost Analysis Pub Date : 2022-10-28 DOI: 10.1017/bca.2022.14

M. Dickie, W. Adamowicz, S. Gerking, Marcella Veronesi

{"title":"Risk Perception, Learning, and Willingness to Pay to Reduce Heart Disease Risk","authors":"M. Dickie, W. Adamowicz, S. Gerking, Marcella Veronesi","doi":"10.1017/bca.2022.14","DOIUrl":"https://doi.org/10.1017/bca.2022.14","url":null,"abstract":"Abstract The paper investigates the validity of individual perceptions of heart disease risks, and examines how information and risk perceptions affect marginal willingness to pay (MWTP) to reduce risk, using data from a stated preference survey. Results indicate that risk perceptions held before receiving risk information are plausibly related to objective risk factors and reflect individual-specific information not found in aggregate measures of objective risk. After receiving information, individuals’ updates of prior risk assessments are broadly consistent with Bayesian learning. Perceived heart disease risks thus satisfy construct validity and provide a valid basis for inferring MWTP to reduce risk. Consistent estimators of the relationship of MWTP to endogenously perceived risk are developed. Estimating MWTP based on objective rather than subjective risks causes misleading inferences about benefits of risk reduction. An empirical case study shows that estimated benefits may be as much as 60–98 % higher when estimated using individuals’ heterogeneous perceptions of risk than when using aggregate estimates of objective risk. The main contributions include assessing the validity of risk perceptions and their updating, consistently estimating the relationship between MWTP and endogenously perceived risk, and demonstrating the importance of employing risk perception information for accurate benefit measurement.","PeriodicalId":45587,"journal":{"name":"Journal of Benefit-Cost Analysis","volume":"40 1","pages":"363 - 382"},"PeriodicalIF":3.4,"publicationDate":"2022-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90725616","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Three Misconceptions about Federal Regulation 关于联邦监管的三个误解

IF 3.4 4区经济学

Journal of Benefit-Cost Analysis Pub Date : 2022-10-04 DOI: 10.1017/bca.2022.13

P. McLaughlin, C. Mulligan

引用次数: 0