Benefit-Cost Analyses for Security Policies: Does Increased Safety Have to Reduce Efficiency?

Contents: PART I: INTRODUCTION AND OBJECTIVES 1. Introducing the Issues: Meeting the Challenges in Evaluating Homeland Security Policy. Carol Mansfield and V. Kerry Smith 2. The Design of Benefit Cost "Architecture" for Homeland Security Policy Analysis. V. Kerry Smith and Carol Mansfield PART II: SECURITY POLICIES AS REDUCING RISKS 3. Lessons from Risk Assessment, Economics, and Risk Management at EPA. Chris Dockins and William Wheeler 4. The Heterogeneity of the Value of Statistical Life: Evidence and Policy Implications. W. Kip Viscusi 5. Dealing with Safety in UK Public-Sector Project Appraisal. Michael W. Jones-Lee 6. A Comparison of Key Benefit Estimation Issues for Natural Hazards and Terrorism: Ex Ante / Ex Post Valuation and Endogenous Risk. Scott Farrow PART III: ADAPTATION AND ECONOMY WIDE EFFECTS 7. Urban Adaptation to Low-Probability Shocks: Contrasting Terrorism and Natural Disaster Risk. Matthew E. Kahn 8. Macroeconomic Consequences of Terrorist Attacks: Estimation for the Analysis of Policies and Rules. Adam Rose PART IV: PRACTICAL IMPLEMENTATION OF POLICY EVALUATION 9. Valuing Time for Department of Homeland Security Projects and Policies. Kenneth E. McConnell 10. Applicability of Benefit Transfers for Evaluation of Homeland Security Counterterrorism Measures. Kevin J. Boyle, Sapna Kaul, Ali Hashemi and Xiaoshu Li 11. What We Know and What We Need to Learn. Carol Mansfield and V. Kerry Smith Index