The Benefit-Cost Analysis of Security Focused Regulations
Security focused regulations have been largely exempt from the benefit-cost type of analysis required for major Federal regulations and done routinely in areas such as transportation, environment and safety. among the reasons offered for exemption are the analytical difficulties of security issues involving complex or poorly understood probabilities and consequences. This paper investigates the magnitude of security focused regulations, a framework for developing an expected costs analysis of regulations, and the current "break-even" analysis used by the Department of Homeland Security. Key assumptions implicit in the current analysis are identified and suggestions are made for the difficult evolution of security regulations toward a more explicit benefit-cost analysis.
|Date of creation:||29 Sep 2009|
|Date of revision:|
|Contact details of provider:|| Postal: UMBC Department of Economics 1000 Hilltop Circle Baltimore MD 21250, USA|
Web page: http://www.umbc.edu/economics
More information through EDIRC
|Order Information:|| Email: |
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Viscusi, W. Kip & Zeckhauser, Richard, 2003.
"Sacrificing Civil Liberties to Reduce Terrorism Risks,"
Working Paper Series
rwp03-017, Harvard University, John F. Kennedy School of Government.
- Viscusi, W Kip & Zeckhauser, Richard J, 2003. "Sacrificing Civil Liberties to Reduce Terrorism Risks," Journal of Risk and Uncertainty, Springer, vol. 26(2-3), pages 99-120, March-May.
- George J. Borjas, 2005.
"The Labor Market Impact of High-Skill Immigration,"
NBER Working Papers
11217, National Bureau of Economic Research, Inc.
- Rossiter, Adriana & Dresner, Martin, 2004. "The impact of the September 11th security fee and passenger wait time on traffic diversion and highway fatalities," Journal of Air Transport Management, Elsevier, vol. 10(4), pages 225-230.
- L. Eeckhoudt & C. Gollier & H. Schlesinger, 2005. "Economic and financial decisions under risk," Post-Print hal-00325882, HAL.
- Scott Farrow, 2007. "The Economics Of Homeland Security Expenditures: Foundational Expected Cost-Effectiveness Approaches," Contemporary Economic Policy, Western Economic Association International, vol. 25(1), pages 14-26, 01.
When requesting a correction, please mention this item's handle: RePEc:umb:econwp:09101. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christelle Viauroux)
If references are entirely missing, you can add them using this form.