ABSTRACT
Comprehending why, and how, we regulate is essential. Understanding the outcomesconsequences, both positive and negative-of regulation also is important. Documenting those outcomes, though, is an enormous subject in itself, due both to the vast quantity of analyses available and the differences in approaches used. Differences in approach include the time periods covered, assumptions incorporated, methods used to incorporate nonpriced components (also known as nonmarket goods), ranging from the mere existence of wilderness to the value of a human life, discount rates (the degree to which current use is valued over future users), and so forth.
