Incorporating Risk and Uncertainty in Cost-Benefit Analysis

Incorporating equity in regulatory and benefit-cost analysis using risk-based preferences.

The analysis of federal regulations focuses on the analysis of economic efficiency through standard benefit-cost analysis in which reductions in risk tend to represent benefits and variability may be investigated through sensitivity or simulation methods. Such analyses typically ignore distributional consequences that can affect decisions. Although analytical guidance from the Office of Managem...

Importance of Incorporating Distributional Issues in Benefit Cost Analysis

The realities of risk-cost-benefit analysis.

Formal analyses can be valuable aids to decision-making if their limits are understood. Those limits arise from the two forms of subjectivity found in all analyses: ethical judgments, made when setting the terms of an analysis, and scientific judgments, made when conducting it. As formal analysis has assumed a larger role in policy decisions, awareness of those judgments has grown, as have meth...

A Model for Runway Landing Flow and Capacity with Risk and Cost Benefit Factors

As the demand for the civil aviation has been growing for decades and the system becoming increasingly complex, the use of systems engineering and operations research tools have shown to be of further use in managing this system. In this study, we apply such tools in managing landing operations on runways (as the bottleneck and highly valuable resources of air transportation networks) to handle...

Risk assessment and cost/benefit analysis for new regulations:.

The Committee on Commerce, to whom was referred title III of the bill (H.R. 9) to create jobs, enhance wages, strengthen property rights, maintain certain economic liberties, decentralize and reduce the power of the Federal Government with respect to the States, localities, and citizens of the United States, and to increase the accountability of Federal officials, having considered the same, re...