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1 i (2005)

handle is hein.amenin/aeiabll0001 and id is 1 raw text is: In Defense of the Economic Analysis of Regulation Robert W. Hahn Several scholars are highly skeptical of the use of cost-benefit analysis and other economic tools in regulatory decision making. Recently, these critics have focused on debunking economic summaries of regulatory activity, sometimes referred to as regulatory scorecards. The critics gen- erally support less quantitative economic analysis of regulations. This monograph addresses the analytical concerns raised by the crit- ics. It makes four points: First, summary measures of the impact of reg- ulations have made important contributions to our understanding of the regulatory process, a point often overlooked by the critics; second, many of the critics' concerns could be addressed by making refinements to scorecards rather than wholly rejecting them as an analytical tool; third, some of the suggestions made by the critics are legitimate, but many are not; and finally, the solution to legitimate concerns raised by the critics is not to eliminate quantitative economic analysis but to gain a deeper understanding of its strengths and weaknesses and to use it wisely. Robert W Hahn is cofounder and executive director of the AEI- Brookings Joint Center for Regulatory Studies and a resident scholar at the American Enterprise Institute. AMERICAN ENTERPRISE INSTITUTE FOR PUBLIC POLICY RESEARCH 1150 Seventeenth Street, N.W. Washington, D.C. 20036 THE BROOKINGS INSTITUTION 1775 Massachusetts Avenue, N.W. Washington, D.C. 20036 BUSINESS/ECONOMICS $20.00 •...................................................... ISBN 084477186-4 52 000 In Defense of the Economic Analysis of Regulation Robert W. Hahn

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