Benefit-Cost Analysis and Eh&s Regulation

PALO ALTO, CA - Stanford economist Kenneth J. Arrow and colleagues, in an article in the April 12 issue of Science, discussed the place of benefit-cost analysis in the regulatory process. They stated that the direct costs of federal environmental, health and safety (EH&S) regulation appear more certain than the benefits, "although evidence suggests that some but not all recent regulations would pass a benefit-cost test."The economists note that the estimated cost per statistical life saved varies wide