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• Author: Robert W. Hahn
• Publisher: AEI Press
• ISBN: 0844771864
• Pages: 117

Product Details

• Paperback: 117 pages
• Publisher: AEI Press (April 25, 2005)
• Language: English
• ISBN-10: 0844771864
• ISBN-13: 978-0844771861

Product Description

Several scholars are highly skeptical of the use of cost-benefit analysis and other economic tools in regulatory decision making. Recently, these critics have focused on debunking economic summaries of regulatory activity, sometimes referred to as regulatory scorecards. The critics generally support less quantitative economic analysis of regulations.

This monograph addresses the analytical concerns raised by the critics. It makes four points: First, summary measures of the impact of regulations have made important contributions to our understanding of the regulatory process, a point often overlooked by the critics; second, many of the critics’ concerns could be addressed by making refinements to scorecards rather than wholly rejecting them as an analytical tool; third, some of the suggestions made by the critics are legitimate but many are not; and finally, the solution to legitimate concerns raised by the critics is not to eliminate quantitative economic analysis but to gain a deeper understanding of its strengths and weaknesses and to use it wisely.

About the Author

Robert W. Hahn is cofounder and executive director of the AEI–Brookings Joint left for Regulatory Studies and a resident scholar at AEI. Previously, he has worked for the President’s Council of Economic Advisers, Harvard, and Carnegie Mellon University. Mr. Hahn frequently contributes to general-interest periodicals and leading scholarly journals, including the New York Times, Wall Street Journal, American Economic Review, Yale Law Journal, and Science. Recently, he is the author of Reviving Regulatory Reform: A Global Perspective and editor of High-Stakes Antitrust.