Benefit–Cost Analyses for Security Policies

Does Increased Safety Have to Reduce Efficiency?

C. Mansfield,

Benefit–Cost Analyses for Security Policies: Does Increased Safety Have to Reduce Efficiency?
 
 
Benefit-Cost Analyses for Security Policies describes how to undertake the evaluation of security policies within the framework of benefit-cost analysis and offers a unique contribution to analysis of homeland security regulations in the United States. The authors outline how established procedures for benefit-cost analysis must adapt to meet challenges posed by current security policy, through examining specific security related regulations. The logic of risk assessment, selection of a discount rate, valuation of travellers’ time when delayed due to screening, valuation of changes in risks of injury or death, and impacts of terrorist events on the economy as a whole are among the issues discussed. An outline of the research and policy evaluation steps needed to build robust benefit-cost methods to evaluate security related regulations in the future is presented in the book.


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