March 5, 2004
How Much Is a Manatee Worth?
Cost-benefit analysis has become the preferred technique among policy makers for determining when health and environmental risks are serious enough to warrant regulation of the substances or activities that cause them. By quantifying the costs and the benefits of regulation, its proponents say, bureaucrats can set rational policies rather than respond to public hysteria.
In the absence of such analysis, the proponents add, special-interest groups can manipulate public opinion about
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First Person
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Notes From Academe
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Commentary
