By Invitation

Why cost-benefit analysis is useful for regulatory reform

From assessing air quality to determining the value of damages in law suits, cost-benefit analysis provides a framework that can also guide policymaking

In 1988, I began my full academic career at the National University of Singapore. I taught environmental economics and later established a new graduate course on cost-benefit analysis (CBA). At the time, CBA was not the main tool used for evaluation by the public sector.

Instead, something called cost-effectiveness analysis (CEA) was the main instrument for analysis of projects, programmes and policies. It was used widely at the time, and is still relevant now.

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A version of this article appeared in the print edition of The Straits Times on January 12, 2019, with the headline 'Why cost-benefit analysis is useful for regulatory reform'. Print Edition | Subscribe