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The Globalization of Cost-Benefit Analysis in Environmental Policy$
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Michael A. Livermore and Richard L. Revesz

Print publication date: 2013

Print ISBN-13: 9780199934386

Published to Oxford Scholarship Online: May 2013

DOI: 10.1093/acprof:oso/9780199934386.001.0001

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Changing Faces of Cost-Benefit Analysis

Changing Faces of Cost-Benefit Analysis

Alternative Institutional Settings and Varied Social and Political Contexts

Chapter:
(p.87) 6 Changing Faces of Cost-Benefit Analysis
Source:
The Globalization of Cost-Benefit Analysis in Environmental Policy
Author(s):

Jiunn-rong Yeh

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199934386.003.0006

Cost-benefit analysis is a detailed, technical, and potentially confusing process. When cost-benefit analysis is prepared for executive oversight, it tends to include high levels of quantification and monetization, but when the general public becomes the decision-making authority, cost-benefit analysis must be made comprehensible to a broader audience. The author uses the example of casino gambling in Taiwan to illustrate how changes in decision-making authorities precipitate changes in analysis. When the general public makes a final decision, cost-benefit analysis takes on a more dialectic dimension, engaging people with divergent concerns in discussions and presentations of their views. This dialectic process of cost-benefit analysis may help improve the quality of cost-benefit analysis as an effective tool for decision making and spur the development of different versions of cost-benefit analysis tailored to different decision-making contexts.

Keywords:   Monetization, casino, gambling, cost-benefit analysis

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