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Who has standing in cost-benefit analysis?

Author

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  • William N. Trumbull

    (Assistant Professor of Economics at West Virginia University, Morgantown, West Virginia)

Abstract

The issues involved in deciding whose preferences are to be counted in cost-benefit analysis are often misunderstood or controversial. This paper attempts to resolve the issues in a number of particular cases by looking to the fundamental value assumptions underlying cost-benefit analysis. Cost-benefit analysis is useful only to the extent that there exists a general consensus that the value assumptions are legitimate. Certain implications of the value assumptions prove useful in deciding what preferences have standing.

Suggested Citation

  • William N. Trumbull, 1990. "Who has standing in cost-benefit analysis?," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 9(2), pages 201-218.
    • Handle: RePEc:wly:jpamgt:v:9:y:1990:i:2:p:201-218
    DOI: 10.2307/3325412
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    References listed on IDEAS

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    1. Gary S. Becker, 1974. "Crime and Punishment: An Economic Approach," NBER Chapters, in: Essays in the Economics of Crime and Punishment, pages 1-54, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Christopher Robert & Richard Zeckhauser, 2011. "The methodology of normative policy analysis," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 30(3), pages 613-643, June.
    2. Marian Shanahan & Alison Ritter, 2014. "Cost Benefit Analysis of Two Policy Options for Cannabis: Status Quo and Legalisation," PLOS ONE, Public Library of Science, vol. 9(4), pages 1-12, April.
    3. Richard O. Zerbe, 2013. "Ethical benefit–cost analysis as art and science: ten rules for benefit–cost analysis," Chapters, in: Scott O. Farrow & Richard Zerbe, Jr. (ed.), Principles and Standards for Benefit–Cost Analysis, chapter 8, pages 264-293, Edward Elgar Publishing.
    4. Zerbe, Richard, 2023. "A foundation for benefit-cost analysis," MPRA Paper 121294, University Library of Munich, Germany, revised Jun 2024.
    5. FIEL y CEP & FIEL (ed.), 2000. "Una Educación para el Siglo XXI. El caso argentino y otras experiencias internacionales," Books at FIEL, FIEL, edition 1, volume 1, number 1000.
    6. Richard W. Dunford & F. Reed Johnson & Emily S. West, 1997. "Whose Losses Count In Natural Resource Damages?," Contemporary Economic Policy, Western Economic Association International, vol. 15(4), pages 77-87, October.
    7. Campbell, Harry F. & Brown, Richard P.C., 2005. "A multiple account framework for cost-benefit analysis," Evaluation and Program Planning, Elsevier, vol. 28(1), pages 23-32.
    8. Vining, Aidan R. & Moore, Mark A., 2017. "Potash ownership and extraction: Between a rock and a hard place in Saskatchewan," Resources Policy, Elsevier, vol. 54(C), pages 71-80.
    9. Robert, Christopher LeBaron & Zeckhauser, Richard Jay, 2010. "The Methodology of Positive Policy Analysis," Scholarly Articles 4450129, Harvard Kennedy School of Government.
    10. Nurmi, Väinö & Ahtiainen, Heini, 2018. "Distributional Weights in Environmental Valuation and Cost-benefit Analysis: Theory and Practice," Ecological Economics, Elsevier, vol. 150(C), pages 217-228.
    11. Dale Whittington & Richard T. Carson & Thomas Sterner, 2023. "Policy Note: Benefit Cost Analysis of Water Investments in the Anthropocene," Water Economics and Policy (WEP), World Scientific Publishing Co. Pte. Ltd., vol. 9(03), pages 1-23, July.
    12. Therese C. Grijalva & Robert P. Berrens & Alok K. Bohara & Paul M. Jakus & W. Douglass Shaw, 2002. "Valuing the Loss of Rock Climbing Access in Wilderness Areas: A National-Level, Random-Utility Model," Land Economics, University of Wisconsin Press, vol. 78(1), pages 103-120.
    13. Aidan R. Vining, 2016. "What Is Public Agency Strategic Analysis (PASA) and How Does It Differ from Public Policy Analysis and Firm Strategy Analysis?," Administrative Sciences, MDPI, vol. 6(4), pages 1-31, December.
    14. Jonathan A. Lesser & Richard O. Zerbe, 1995. "What Can Economic Analysis Contribute To The ‘Sustainability’ Debate?," Contemporary Economic Policy, Western Economic Association International, vol. 13(3), pages 88-100, July.
    15. Karthik Kannan & Mohammad S. Rahman & Mohit Tawarmalani, 2016. "Economic and Policy Implications of Restricted Patch Distribution," Management Science, INFORMS, vol. 62(11), pages 3161-3182, November.
    16. Sheena McConnell & Steven Glazerman, 2001. "National Job Corps Study: The Benefits and Costs of Job Corps," Mathematica Policy Research Reports 19ff8678a108410587c5dfad0, Mathematica Policy Research.
    17. repec:mpr:mprres:2955 is not listed on IDEAS
    18. Grant, Darren, 2016. "A structural analysis of U.S. drunk driving policy," International Review of Law and Economics, Elsevier, vol. 45(C), pages 14-22.
    19. Alessandro Barbarino & Giovanni Mastrobuoni, 2014. "The Incapacitation Effect of Incarceration: Evidence from Several Italian Collective Pardons," American Economic Journal: Economic Policy, American Economic Association, vol. 6(1), pages 1-37, February.
    20. Veisten, Knut & Stefan, Christian & Winkelbauer, Martin, 2013. "Standing in cost-benefit analysis of road safety measures: A case of speed enforcement vs. speed change," Transport Policy, Elsevier, vol. 30(C), pages 269-274.

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