Equity through a cost-benefit lens

CBA can provide insights on equity. But CBA isn't a substitute for a more comprehensive analysis of equity-related issues.

Cost-benefit analysis (CBA), as taught and used in economics, law and public policy, evaluates the Kaldor-Hicks efficiency of policies and programs. That is, do those policies and programs result in a bigger pie for society overall, regardless of how shares in the pie are distributed?¹

Distributive fairness can be acknowledged or discussed in a CBA, but i…