Regulation, Compensation, and the Loss of Life: What Cost-Benefit Analysis Really Requires

Ethics, Policy and Environment 15 (1):97 - 118 (2012)
This paper defends two main claims. First: although it is easy to lose sight of this, what cost-benefit analysis really demands, in order to approve of a prospective policy, is that it be possible for those who would gain through the policy change to compensate those who would lose through it. And second: in cases where a policy change does, or can reasonably be expected to, lead to someone's death, the demand of compensability is much harder to satisfy than economists typically think. More specifically, their standard move?maintaining that compensability should be judged ex ante, and that it is thus really just risk of death, not death itself, that must be (and often is) compensable?is unsuccessful. Then, the implications of these claims are briefly explored
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DOI 10.1080/21550085.2012.672693
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References found in this work BETA
A Theory of Justice.John Rawls - 2009 - In Steven M. Cahn (ed.), Philosophy and Rhetoric. Oxford University Press. pp. 133-135.
The Value of a Person.John Broome & Adam Morton - 1994 - Aristotelian Society Supplementary Volume 68 (1):167 - 198.
On the Role of Preferences and Values in Public Decisions.Ty Raterman - 2007 - Social Theory and Practice 33 (2):251-276.

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