Venue: Oxford Martin School, Seminar Room 1
Speaker: Professor Matthew Adler, Richard A. Horvitz Professor of Law and Professor of Economics, Philosophy and Public Policy, Duke Center for Law, Duke University.
Title: Beyond Cost-Benefit Analysis
Abstract: Cost-benefit analysis has become the dominant methodology for assessing governmental policy. It has given rise to a vast academic literature, and is now officially required as part of the policymaking process in a number of governments. But cost-benefit analysis is flawed. It lacks firm normative foundations and is biased toward the rich. In this talk, I describe and defend a better approach: the social welfare function.