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In Defense Of Regulatory Peer Review, J.B. Ruhl, James Salzman
In Defense Of Regulatory Peer Review, J.B. Ruhl, James Salzman
Vanderbilt Law School Faculty Publications
The debate over application of peer review to the regulatory decisions of administrative agencies has heated up in the last year. Part of the larger and controversial sound science movement, mandating peer review for certain types of agency decisions has recently been championed by the White House and proponents in Congress. Indeed, this past January the Office of Management and Budget finalized guidelines requiring peer review for large classes of agency activities. These initiatives have not gone unchallenged, and a fierce debate has resulted between those who claim peer review will strengthen the scientific basis of agency decisions and those …
Monetizing The Benefits Of Risk And Environmental Regulation, W. Kip Viscusi
Monetizing The Benefits Of Risk And Environmental Regulation, W. Kip Viscusi
Vanderbilt Law School Faculty Publications
Should the benefits of risk and environmental regulations be monetized? For economists, this question is not controversial. Benefits of government policies have a value given by society's willingness to pay for these benefits, which by its very nature poses the valuation issue in monetary terms. Government agencies have likewise not shied away from monetizing these benefits. A contrary school of thought, however, has recently emerged, as reflected in the book by Frank Ackerman and Lisa Heinzerling, Priceless: On Knowing the Price of Everything and the Value of Nothing. As the title of the book suggests, the authors oppose economists' attempts …