Titlebook: Benefits Assessment; The State of the Art Judith D. Bentkover,Vincent T. Covello,Jeryl Mumpo Book 1986 D. Reidel Publishing Company 1986 ca

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Theory of Regulatory Benefits Assessment: Econometric and Expressed Preference Approaches,The preceding Chapter 4 has outlined a general framework and a sequence of steps for conducting a benefits assessment. These are summarized below together with several important policy questions that must be confronted in any benefits assessment for a major regulation:

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Infinite Horizon Optimal Controlk. The basis of most government regulation is to minimize risks and detrimental economic impacts. Since risks cannot be exchanged in most instances, it becomes necessary to have a centralized decision process which can regulate the levels of risk. Not all risks can be fully regulated; one must focus