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On Justifying Cost-Benefit Analysis

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  • Kornhauser, Lewis A

Abstract

This essay considers two problems in the justification of cost-benefit analysis. First, it argues that because cost-benefit analysis values policies, variation in imputed "values of life" are not, in theory, cause for concern. Second, it argues that the current framework of justification, which focuses on the moral justification of the formal theory of cost-benefit analysis, is inadequate because it ignores (1) the institutional context in which cost-benefit analyses occur, (2) the comparative nature of the justification, and (3) the fact that justification might be indirect rather than direct. Copyright 2000 by the University of Chicago.

Suggested Citation

  • Kornhauser, Lewis A, 2000. "On Justifying Cost-Benefit Analysis," The Journal of Legal Studies, University of Chicago Press, vol. 29(2), pages 1037-1057, June.
    • Handle: RePEc:ucp:jlstud:v:29:y:2000:i:2:p:1037-57
    DOI: 10.1086/468104
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    Cited by:

    1. Cécile Bourreau-Dubois & Myriam Doriat-Duban & Jean-Claude Ray, 2006. "Caractéristiques du juge et décisions en matière de pensions alimentaires. Une étude à partir de données expérimentales," Revue économique, Presses de Sciences-Po, vol. 57(3), pages 563-572.
    2. Portuese, Aurelien, 2018. "Towards a Meta Cost-benefit Analysis: The Case of Brexit," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 19(1), June.
    3. Jolanta Bijańska & Krzysztof Wodarski & Aneta Aleksander, 2022. "Analysis of the Financing Options for Pro-Ecological Projects," Energies, MDPI, vol. 15(6), pages 1-30, March.
    4. Moretti, M. & Djomo, S. Njakou & Azadi, H. & May, K. & De Vos, K. & Van Passel, S. & Witters, N., 2017. "A systematic review of environmental and economic impacts of smart grids," Renewable and Sustainable Energy Reviews, Elsevier, vol. 68(P2), pages 888-898.
    5. Cécile Bourreau-Dubois & Myriam Doriat-Duban & Jean-Claude Ray, 2014. "Child support order: how do judges decide without guidelines? Evidence from France," European Journal of Law and Economics, Springer, vol. 38(3), pages 431-452, December.

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