A COASEAN APPROACH TO COST-BENEFIT ANALYSIS.

COASE, R. H. (Ronald Harry), 1910-2013; COST effectiveness; FEDERAL regulation; MARKET failure; WELFARE economics; EXTERNALITIES; TRANSACTION costs; GOVERNMENT agencies; ECONOMICS

The article discusses the late British economist Ronald "R.H." Coase's views about social inefficiencies and the costs of market transactions in relation to the development of a Coasean approach to cost-benefit analysis (CBA) as of 2019. The historical aspects of U.S. federal regulation-related CBA are addressed, along with market failure, a welfare assessment, and externalities. Transaction costs and executive agency CBA are assessed.