Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Law
Ethical Benefit-Cost Analysis, Richard O. Zerbe
Ethical Benefit-Cost Analysis, Richard O. Zerbe
Richard O Zerbe Jr.
Recent criticisms of benefit-cost analysis (BCA) by Ackerman and Heinzerling and others have received considerable notoriety. However, their arguments are theoretically and empirically insufficient to assess its usefulness. Their claim that BCA is based on an undesirable ethical foundation echoes many of the long-standing criticisms of BCA that are now arising to somewhat of a crescendo. The ethical criticisms necessarily fail, as they do not reflect a considered understanding of the ethical foundations of BCA and their empirical criticisms fail due to the lack of evidence.
The foundations of BCA are ethical and legal. This understanding provides a fully realized …