Assigning priority to environmental policy interventions in a heterogeneous world

Assigning priority to environmental policy interventions in a heterogeneous world Failure to consider costs as well as benefits is common in many policy initiatives and analyses, particularly in the environmental arena. Economists and other policy scientists have demonstrated that integrating both cost and benefit information explicitly into the policy process can be vital to ensuring that scarce funds go as far as they can toward achieving policy objectives. The costs of acquiring and analyzing such information, however, can be substantial. The objective of this paper is to help policy analysts and practitioners identify the conditions under which integrating cost and benefit information is likely to be vital to effective decisionmaking, and the conditions under which failing to use both cost and benefit data would result in little, if any, loss in efficiency. These points are illustrated through a conceptual discussion and an empirical analysis of a conservation initiative in the United States. © 2003 by the Association for Public Policy Analysis and Management. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Policy Analysis and Management Wiley

Assigning priority to environmental policy interventions in a heterogeneous world

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Publisher
Wiley
Copyright
Copyright © 2003 Association for Public Policy Analysis and Management
ISSN
0276-8739
eISSN
1520-6688
D.O.I.
10.1002/pam.10094
Publisher site
See Article on Publisher Site

Abstract

Failure to consider costs as well as benefits is common in many policy initiatives and analyses, particularly in the environmental arena. Economists and other policy scientists have demonstrated that integrating both cost and benefit information explicitly into the policy process can be vital to ensuring that scarce funds go as far as they can toward achieving policy objectives. The costs of acquiring and analyzing such information, however, can be substantial. The objective of this paper is to help policy analysts and practitioners identify the conditions under which integrating cost and benefit information is likely to be vital to effective decisionmaking, and the conditions under which failing to use both cost and benefit data would result in little, if any, loss in efficiency. These points are illustrated through a conceptual discussion and an empirical analysis of a conservation initiative in the United States. © 2003 by the Association for Public Policy Analysis and Management.

Journal

Journal of Policy Analysis and ManagementWiley

Published: Dec 1, 2003

References

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