In Favor Of Clear Thinking: Incorporating Moral Rules Into A Wise Cost-benefit Analysis
Source: Harvard University
The authors have contributed an interesting paper on the comparative benefit of moral rules versus cost-benefit analysis. Many of their specific comments are accurate, useful, and insightful. At the same time, they believe they have misrepresented cost-benefit analysis and have reached a set of conclusions that are misguided and, if adopted wholesale, potentially dangerous. Overall, they offer wise suggestions for making CBA more effective, rather than eliminating CBA as a decision-making tool. They note that psychological research can be used to understand what alternative formulations of the problem might be present in the minds of study participants.