there is no reason to think that the losers, in terms of relative position, had any entitlement to their antecedent relative position; and we are not, after all, speaking of redistribution from poor to rich. On distributional concerns and cost-benefit analysis, see various papers in Symposium, J. Legal Stud.

A series of fatal commercial aviation accidents starting in the 1970s led to the identification of thunderstorm-related wind shear as a critical hazard to aircraft takeoffs and landings. In aggregate, these accidents resulted in over 400 fatalities and pressured the Federal Aviation Administration (FAA) to develop effective warning technologies. In response, the aviation community invested in a...

Do people think better in a foreign language? D'une certaine façon, oui. Il existe des preuves considérables à cet effet, du moins dans la mesure où ils sont moins susceptibles de s'appuyer sur des intuitions qui peuvent conduire à de graves erreurs. Questa scoperta sottolinea e rende più plausibile, una richiesta centrale nella politica di regolamentazione, il che significa che il valore delle...

This article responds to the criticisms of New Foundations of Cost–Benefit Analysis that appeared in a review by Amy Sinden, Douglas A. Kysar, and David M. Driesen. We argue that their criticisms are either based on misunderstandings of our approach or are too demanding, in the sense that no reasonable decision procedure would satisfy them. We illustrate this second argument by demonstrating th...

ast February, in a legislative proposal to reduce power plant emissions, the U.S. Environmental Protection Agency (EPA) suggested that the economic value of saving the elderly from early death caused by air pollution was less than that of saving healthy adults. Two cost–benefit analyses for the rule, known as the Clear Skies initiative, were presented by the agency. A base analysis without the ...

Concern over global warming has led policy makers worldwide to accept the importance of reducing greenhouse gas emissions. As wind generation does not itself create any harmful emissions, policy makers often promote it as a means of reducing national emission levels while also meeting renewable obligations. In fact, wind generation has been the fastest growing form of renewable energy in Europe...