Well-Being Analysis vs. Cost-Benefit Analysis.
Every proposed law raises the question: Would its benefits outweigh its costs? To answer that question, lawmakers need a way of comparing seemingly
incommensurable things like health and buying power. The most common method is to ask how much people are willing to pay for goods. This approach is called cost-benefit analysis (CBA), and it has long been the dominant method of systematic analysis for evaluating government policy. Despite CBA’s prominence, it