A Defense of Cost-Benefit Analysis for Natural Resource Policy
The recent flurry of scholarship and debate1 over the use of cost-benefit analysis (CBA) in environmental policymaking is still largely academic. However strongly the academy feels one way or the other, the role of CBA in environmental policymaking does not appear to be changing dramatically. Even the Senate confirmation of the controversial John Graham to an important Office of Management and Budget (OMB) post2 is not likely to substantially change policy, given the scrutiny his decisions will now receive. Undoing the U.S.