US Benefit-Cost Analysis Requires Revision

A letter published in the journal Science makes the case for updating benefit-cost analysis to follow the best available data and methods for determining discount rates.

View Journal Article

Date

May 25, 2023

Authors

Peter H. Howard, Max Sarinsky, Michael Bauer, Caroline Cecot, Maureen L. Cropper, Moritz Drupp, Mark Freeman, Kenneth T. Gillingham, Christian Gollier, Ben Groom, Qingran Li, Michael Livermore, Richard G. Newell, William Pizer, Brian C. Prest, Glenn Rudebusch, Thomas Sterner, and Gernot Wagner

Publication

Journal Article in Science

Reading time

1 minute

Click on the link above to read the letter.

Topics

Authors

Peter H. Howard

New York University School of Law

Max Sarinsky

New York University School of Law

Michael Bauer

Universität Hamburg

Caroline Cecot

George Mason University

Maureen L. Cropper

Senior Fellow

Maureen Cropper is a a senior fellow at RFF, professor of economics at the University of Maryland, a member of the Board of Directors at the National Bureau of Economic Research, and a member of the National Academy of Sciences.

Moritz Drupp

Universität Hamburg

Mark Freeman

University of York

Kenneth T. Gillingham

Yale University

Christian Gollier

University of Toulouse-Capitole

Ben Groom

University of Exeter

Qingran Li

Clarkson University

Michael Livermore

University of Virginia

Richard G. Newell

Senior Advisor; Former President and CEO, Resources for the Future

Richard G. Newell

William A. Pizer

President and CEO, Resources for the Future

Billy Pizer is President and CEO of Resources for the Future.

Brian C. Prest

Fellow; Director, Social Cost of Carbon Initiative

Brian Prest is an economist and fellow at Resources for the Future specializing in climate change, oil and gas, and energy economics.

Glenn Rudebusch

The Brookings Institution

Thomas Sterner

University Fellow

Thomas Sterner is a university fellow at RFF. His work is focused on the design of policy instruments to deal with resource and environmental problems.

Gernot Wagner

Columbia University

Related Content

RFF Live — Apr 11, 2023

Modernizing Regulatory Review: Exploring OMB’s Updated Benefit-Cost Guidance

Report — Dec 18, 2024

Climate Insights 2024: American Perceptions of Environmental Justice

This fourth report in the 2024 Climate Insights report series by researchers at Stanford University and RFF examines American opinions of various aspects of environmental justice.

On the Issues — Dec 13, 2024

On the Issues: Tax Credits for Clean Energy, River Rehabilitation, and More

A biweekly newsletter connecting global current events, pressing climate and energy policy news, and economics research from RFF scholars. This week: tax credits for clean energy, river rehabilitation, and more.

RFF Live — Jan 29, 2025

Big Decisions 2025

On Wednesday, January 29th, join RFF and leaders across government, business, philanthropy & media to discuss the big decisions anticipated in 2025.