Journal of Benefit-Cost Analysis最新文献

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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
{"title":"Inequality and the Value of a Statistical Life","authors":"C. Sunstein","doi":"10.1017/bca.2023.7","DOIUrl":"https://doi.org/10.1017/bca.2023.7","url":null,"abstract":"Abstract A uniform value of a statistical life (VSL) is part of established practice within the federal government. Some people have applauded a uniform VSL on the ground that it respects the equality of persons; takes harm to poor people as seriously as it does harm to wealthy people; avoids expressive harms; and builds appropriate wealth redistribution into regulatory policy. Other people have strenuously objected to a uniform VSL, emphasizing that to reduce mortality risks, poor people are willing to pay less than rich people are, and urging that poor people should not have to pay more than they are willing to pay. Whether a uniform VSL is in the interest of poor people depends on whether we are dealing with subsidies or regulations. In the case of subsidies, a uniform VSL is highly likely to benefit poor people. If we are dealing with regulations, we cannot know whether a uniform VSL helps or harms poor people without knowing the incidence of costs (and benefits).","PeriodicalId":45587,"journal":{"name":"Journal of Benefit-Cost Analysis","volume":"8 1","pages":"1 - 7"},"PeriodicalIF":3.4,"publicationDate":"2023-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88879927","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: 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
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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
{"title":"Seven Recommendations for Pricing Greenhouse Gas Emissions","authors":"Arthur G. Fraas, John D. Graham, Kerry M. Krutilla, Randall Lutter, Jason F. Shogren, Linda Thunström, W. Kip Viscusi","doi":"10.1017/bca.2023.31","DOIUrl":"https://doi.org/10.1017/bca.2023.31","url":null,"abstract":"Abstract The social cost of greenhouse gases is important in many regulatory impact analyses. However, calculations of the social cost of greenhouse gases are highly complex and periodically revisited. We offer seven recommendations to improve current estimates. These include recommendations to use both country-level and global measures of the social cost of greenhouse gases, to use country-specific values for monetizing climate damages, to represent uncertainties by reporting distributions instead of using only central values, and to conduct a temporal distributional analysis that shows the magnitudes of climate damages across generations. We also provide recommendations for the discount rates that should be used when estimating the social cost of greenhouse gases, and the appropriate discount rates for regulatory impact analyses that include the social cost of greenhouse gases.","PeriodicalId":45587,"journal":{"name":"Journal of Benefit-Cost Analysis","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136367566","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
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
{"title":"Three Misconceptions about Federal Regulation","authors":"P. McLaughlin, C. Mulligan","doi":"10.1017/bca.2022.13","DOIUrl":"https://doi.org/10.1017/bca.2022.13","url":null,"abstract":"Abstract Three common misconceptions persist about federal regulations. The first misconception is that most new regulations concern the environment, but in fact, only a small minority of regulatory flows are environmental. The second misconception is that regulators offer reasonable justifications and quantitative evidence for the majority of regulations. However, quantitative estimates rarely appear in published rules, negating the impression given by executive orders and Office of Management and Budget guidance, which require cost-benefit analysis (CBA) and clearly articulate sound economic principles for conducting CBA. Environmental rules have relatively higher-quality CBAs, at least by the standards of other federal rules. The third misconception, which is particularly relevant to the historic regulations promulgated during the COVID-19 pandemic, is that regulatory costs are primarily clerical, rather than opportunity or resource costs.","PeriodicalId":45587,"journal":{"name":"Journal of Benefit-Cost Analysis","volume":"7 1","pages":"287 - 309"},"PeriodicalIF":3.4,"publicationDate":"2022-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76508759","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
How is the U.S. Pricing Carbon? How Could We Price Carbon? 美国是如何为碳定价的?我们如何为碳定价?
IF 3.4 4区 经济学
Journal of Benefit-Cost Analysis Pub Date : 2022-10-01 DOI: 10.1017/bca.2022.19
Joseph E. Aldy, D. Burtraw, C. Fischer, M. Fowlie, Roberton C. Williams, M. Cropper
{"title":"How is the U.S. Pricing Carbon? How Could We Price Carbon?","authors":"Joseph E. Aldy, D. Burtraw, C. Fischer, M. Fowlie, Roberton C. Williams, M. Cropper","doi":"10.1017/bca.2022.19","DOIUrl":"https://doi.org/10.1017/bca.2022.19","url":null,"abstract":"Abstract Economists have for decades recommended that carbon dioxide and other greenhouse gases be taxed – or otherwise priced – to provide incentives for their reduction. The USA does not have a federal carbon tax; however, many state and federal programs to reduce carbon emissions effectively price carbon – for example, through cap-and-trade systems or regulations. There are also programs that subsidize reductions in carbon emissions. At the 2022 meetings of the American Economic Association, the Society for Benefit-Cost Analysis brought together five well-known economists – Joe Aldy, Dallas Burtraw, Carolyn Fischer, Meredith Fowlie, and Rob Williams – to discuss how the USA does, in fact, price carbon and how it could price carbon. Maureen Cropper chaired the panel. This paper summarizes their remarks.","PeriodicalId":45587,"journal":{"name":"Journal of Benefit-Cost Analysis","volume":"28 1","pages":"310 - 334"},"PeriodicalIF":3.4,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84544471","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: 2
The Benefits and Costs of a Child Allowance 子女津贴的好处和费用
IF 3.4 4区 经济学
Journal of Benefit-Cost Analysis Pub Date : 2022-09-23 DOI: 10.1017/bca.2022.15
I. Garfinkel, Laurel Sariscsany, Elizabeth Ananat, Sophie Collyer, R. Hartley, Buyi Wang, Christopher Wimer
{"title":"The Benefits and Costs of a Child Allowance","authors":"I. Garfinkel, Laurel Sariscsany, Elizabeth Ananat, Sophie Collyer, R. Hartley, Buyi Wang, Christopher Wimer","doi":"10.1017/bca.2022.15","DOIUrl":"https://doi.org/10.1017/bca.2022.15","url":null,"abstract":"Abstract This article conducts a benefit-cost analysis of a child allowance. Through a systematic literature review of the highest quality evidence on the causal effects of cash and near-cash transfers, this article produces core estimates on the benefits and costs per child and per adult of increasing household income by $1000, which can be used for any cash or near-cash program that increases household income. We then apply these estimates to three child allowance proposals, with the main proposal converting the $2000 Child Tax Credit in the federal income tax code into a fully refundable and more generous child allowance of $3600 per child ages 0–5 and $3000 per child ages 6–17, as enacted for 1 year in the American Rescue Plan. Aggregate costs and benefits are estimated via micro-simulation. Our estimates indicate that making the $2000 Child Tax Credit fully refundable and increasing benefits to $3000/$3600 would cost $97 billion per year and generate social benefits of $929 billion per year. Sensitivity analyses indicate that the results are robust to alternative assumptions and that each of the three child allowance proposals produces a very strong to an extraordinarily strong return for the U.S. population.","PeriodicalId":45587,"journal":{"name":"Journal of Benefit-Cost Analysis","volume":"41 1","pages":"335 - 362"},"PeriodicalIF":3.4,"publicationDate":"2022-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85486817","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: 4
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