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Related Experiment Videos

Transfer regulations and cost-effectiveness analysis.

Eric A Posner1

  • 1University of Chicago, USA.

Duke Law Journal
|July 21, 2004
PubMed
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Regulatory oversight scholarship overlooks transfer regulations, which channel funds. Cost-benefit analysis is unsuitable; cost-effectiveness analysis is appropriate but poorly implemented by agencies.

Area of Science:

  • Economics
  • Public Policy
  • Regulatory Analysis

Background:

  • Recent scholarship on regulatory oversight primarily examines cost-benefit analysis of prescriptive regulations.
  • Prescriptive regulations aim to correct market failures by restricting behavior, such as pollution controls.
  • The significant category of transfer regulations, which channel funds to beneficiaries, has been largely overlooked.

Purpose of the Study:

  • To highlight the oversight of transfer regulations in academic and policy analysis.
  • To demonstrate the inadequacy of cost-benefit analysis for evaluating transfer regulations.
  • To advocate for the appropriate use of cost-effectiveness analysis for transfer regulations and improved oversight.

Main Methods:

  • Literature review of regulatory oversight scholarship.

Related Experiment Videos

  • Theoretical analysis of cost-benefit analysis and cost-effectiveness analysis applicability.
  • Examination of agency practices in evaluating regulations with economic impact.

    • Main Results:

    • Cost-benefit analysis is fundamentally unsuited for evaluating transfer regulations, as they inherently fail such analyses.
    • Cost-effectiveness analysis is the appropriate methodology for assessing transfer regulations.
    • Agency implementation of cost-effectiveness analysis for transfer regulations is consistently poor, with widespread failure or incorrect application.

    Conclusions:

    • Transfer regulations, including entitlement programs and disaster relief, require a different analytical approach than prescriptive regulations.
    • Executive orders mandating cost-effectiveness analysis for impactful regulations are not effectively implemented by agencies.
    • Enhanced oversight from the Office of Management and Budget and judicial review is necessary to improve the quality of transfer regulation analysis.