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Lessons from risk assessment, economics, and risk management at EPA

In: Benefit–Cost Analyses for Security Policies

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  • Chris Dockins
  • William Wheeler

Abstract

Benefit–Cost Analyses for Security Policies describes how to undertake the evaluation of security policies within the framework of benefit–cost analysis and offers a unique contribution to analysis of homeland security regulations in the United States. The authors outline how established procedures for benefit–cost analysis must adapt to meet challenges posed by current security policy, through examining specific security related regulations. The logic of risk assessment, selection of a discount rate, valuation of travellers’ time when delayed due to screening, valuation of changes in risks of injury or death, and impacts of terrorist events on the economy as a whole are among the issues discussed. An outline of the research and policy evaluation steps needed to build robust benefit-cost methods to evaluate security related regulations in the future is presented in the book.

Suggested Citation

  • Chris Dockins & William Wheeler, 2015. "Lessons from risk assessment, economics, and risk management at EPA," Chapters, in: Carol Mansfield & V. K. Smith (ed.), Benefit–Cost Analyses for Security Policies, chapter 3, pages 63-77, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:16106_3
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    References listed on IDEAS

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    1. James T. Hamilton & W. Kip Viscusi, 1999. "Calculating Risks?: The Spatial and Political Dimensions of Hazardous Waste Policy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262082780, December.
    2. Boyd, James & Krupnick, Alan J., 2013. "Using Ecological Production Theory to Define and Select Environmental Commodities for Nonmarket Valuation," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(1), pages 1-32, April.
    3. Boyd, James & Banzhaf, Spencer, 2007. "What are ecosystem services? The need for standardized environmental accounting units," Ecological Economics, Elsevier, vol. 63(2-3), pages 616-626, August.
    4. Boyd, James & Krupnick, Alan, 2013. "Using Ecological Production Theory to Define and Select Environmental Commodities for Nonmarket Valuation," Agricultural and Resource Economics Review, Cambridge University Press, vol. 42(1), pages 1-32, April.
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