Money saving advantage Analysis

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Slide 1

Money saving advantage Analysis

Slide 2

Executive Order 12291 RIA for every new direction Benefits > Costs Office of Information and Regulatory Affairs (OIRA) in OMB 1984-58 rules "sent back"

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Executive Order 12866 Perform RIA for "critical controls" > $100 million " Costs and advantages ought to be comprehended to incorporate both quantifiable measures ... what's more, subjective measures of expenses and advantages that are hard to evaluate." Maximize "net advantages to society 1992-00, 16 rules sent back

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CBA Okay Safe Drinking Water Act (1996) Environmental Impact Statements CBA Never Toxic Substance Control Act RCRA Clean Air Act Clean Water Act Statutory Requirements Var

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Phasedown of Lead in Gas "Cadillac" of money saving advantage examination How to gauge benefits? Would you rather be a lion or steed tamer?

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SO2 National Ambient Air Quality Benefit Categories

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What does EPA RIA propose about estimation of advantages?

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Section 812 Study Was the CAA justified, despite all the trouble? 1990 advantages of CAA $1.25 trillion 1990 US Economy GDP 5 trillion "Suspicions basic the evaluations are frequently unavoidably discretionary, they effectsly affect the last results, and the impacts are not generally all around clarified." Randall Luttner, Brookings Institute

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Section 812 Baseline No change in air without CAA 60 metro territories have higher PM in 1990 than Moscow 1970 gauge ��  benefits?

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PM Mortality Where is PM? Where is Grandma?

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Value of a Life Year $ Value of Reducing Mortality in years of life picked up $293,000 or $100,000 $ benefits $16.6 trillion or 9.1 trillion

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Particulate Matter Mortality EPA-Reducing PM introduction = pick up 14 years FDA-stopping smoking = pick up of 15 years

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Value of Life? $6.1 million EPA $2.5 million DOT $5 million Consumer Product Safety Commission

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Spaceship Survivor Me, you, infant, and a 72 year old woman on spaceship, sufficiently just O2 for 3 individuals. Who do you hurl?

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OIRA "elective evaluations" for a measurable life $2.3 million >70 Impact on BCA of air contamination?

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John Graham, W's Regulatory Czar

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Past Predictions of Costs of Regulations 28 Major Regulations (exactness = + 25% of gauge)

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Why do CBA? Is CBA characteristically Stupid? Misleading Anti-ecological? Cases Saving Lives and Saving Turtles

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Selling Indulgences

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Conclusions Thresholds Benefits > Costs Useful for surveying administrative effect Incomplete instrument