It feels to me like the assumptions are not the clear issue. Usefulness is.
Why spend so much effort eliminating “dollar value distortions” from social cost estimates when those estimates already have margins of error due to uncertainties about manufacturing processes, modes of transportation, etc.?
Why publish economic figures in a slightly more accurate format when that format is going to be necessarily quite complex? It seems like TEMS values would be hard to use for practical purposes.
There’s definitely great work to be done around figuring out how to account for externalities. But I just don’t see the benefits of an entirely new framework.
It feels to me like the assumptions are not the clear issue. Usefulness is.
Why spend so much effort eliminating “dollar value distortions” from social cost estimates when those estimates already have margins of error due to uncertainties about manufacturing processes, modes of transportation, etc.?
Why publish economic figures in a slightly more accurate format when that format is going to be necessarily quite complex? It seems like TEMS values would be hard to use for practical purposes.
There’s definitely great work to be done around figuring out how to account for externalities. But I just don’t see the benefits of an entirely new framework.
Duly noted, thank you