Dynamic Benefit-Cost Analysis for Uncertain Futures
The diverse policy decisions confronting decision-makers today demand “dynamic BCA,” analytic frameworks that incorporate uncertainties and trade-offs across policy areas, recognizing that: perceptions of risks can be uninformed, misinformed, or inaccurate; risk characterization can suffer from ambiguity; and experts’ tendency to focus on one risk at a time may blind policymakers to important trade-offs.
Codifying the Cost-Benefit State
Benefit-cost balancing is now a dominant paradigm in administrative law for evaluating federal agencies’ exercise of delegated regulatory discretion. In response to increased scrutiny upon judicial review, agencies have taken steps to firm up their benefit-cost analyses. Despite multiple Executive Orders and supplementary guidance, neither executive nor legislative action has produced a clear set of justiciable standards against which courts can evaluate agency analyses for adequacy.
This report examines the relationship between the organization of economists in agencies and the robustness and integrity of economic analysis that is intended to inform decisions about the design and adoption of individual regulations.
10 Years of Going Back to School
The Fall 2019 semester marks an important milestone for the Regulatory Studies Center.
OIRA Wants You…To Schedule Meetings Online
People who wish to meet with the Office of Information and Regulatory Affairs (OIRA) to discuss a draft regulation may now request to do so online. OIRA has recently moved to an online, automated meeting request process.
