Benefit cost analysis is an extremely common tool

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From RISK, COST AND LIVES SAVED -"Getting Better Results from regulations" , Lester B. Lave's "Benefit-Cost Analysis: Do the Benefits Exceed the Costs?"

Benefit Cost Analysis is an extremely common tool that has generally been adopted as the primary decision criteria in most policy analysis circles. Lave here is pushing back against the dominance of that culture, attempting to illustrate that BCA is not a perfect tool and attempting to specifically point out ways that it doesn’t reflect our values. What is Lester Lave’s real argument here? Is it an argument against benefit-cost analysis (BCA) or something more subtle? What is utilitarianism and how does this essay relate to it? What are the weaknesses of BCA? When should we use BCA (on what type of problems)? How should we interpret the output of a BCA?

Reference no: EM132165550

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