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Linking economics and risk assessment
Chris Dockins1, Charles W Griffiths, Nicole Owens
1U.S. Environmental Protection Agency, National Center for Environmental Economics, Washington, DC, USA.
Journal of Toxicology and Environmental Health. Part A
|June 15, 2004
Summary
Benefit-cost analysis requires robust risk assessment. Collaboration between economists and risk assessors is crucial for improving quantitative human health benefits analysis.
Area of Science:
- Environmental Economics
- Risk Assessment
- Public Health Policy
Background:
- Benefit-cost analysis (BCA) heavily depends on risk assessment (RA) for quantifying benefits.
- RA methods often dictate the extent to which benefits can be included in economic analyses.
Purpose of the Study:
- To review the economic foundations of BCA.
- To identify implications of integrating BCA into RA.
- To propose future interdisciplinary collaborations between economists and risk assessors.
Main Methods:
- Literature review of economic principles in BCA.
- Analysis of the intersection between BCA and RA methodologies.
- Identification of areas for synergistic cooperation.
Main Results:
- Economic foundations of BCA are essential for RA.
- Integrating BCA into RA presents specific challenges and opportunities.
- Interdisciplinary collaboration is key to advancing quantitative health benefits analysis.
Conclusions:
- Strengthening the link between BCA and RA is vital for accurate economic evaluations.
- Future cooperation between economists and risk assessors will enhance human health benefit quantification.
- This interdisciplinary approach is critical for informed policy decisions.