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Full-Text Articles in Health Policy
Benefit-Cost Analysis Of Environmental Projects: A Plethora Of Systematic Biases, Philip E. Graves
Benefit-Cost Analysis Of Environmental Projects: A Plethora Of Systematic Biases, Philip E. Graves
PHILIP E GRAVES
There are many reasons to suspect that benefit-cost analysis applied to environmental policies will result in policy decisions that will reject those environmental policies. The important question, of course, is whether those rejections are based on proper science. The present paper explores sources of bias in the methods used to evaluate environmental policy in the United States, although most of the arguments translate immediately to decision-making in other countries. There are some “big picture” considerations that have gone unrecognized, and there are numerous more minor, yet cumulatively important, technical details that point to potentially large biases against acceptance on benefit-cost …
A Note On The "Union Effect" In Vsl Studies, Philip E. Graves
A Note On The "Union Effect" In Vsl Studies, Philip E. Graves
PHILIP E GRAVES
Viscusi and Aldy (2003) observe that “most studies of the U.S. labor market find that union affiliation is positively correlated with a greater wage-risk tradeoff while international evidence is much more mixed.” They provide several arguments as to why the risk premium might be higher for union members (marginal versus average worker preference, the quasi-public good nature of workplace safety, and better safety information for the unionized). An alternative explanation–concentration of union membership in undesirable locations–can account for both the apparent higher risk premium in union jobs in the United States and the failure to find that gap in the …