-
try to judge the reasonableness of a proposed regulation.
-
Generally, the system of environmental law that we've got
-
is utilitarian.
-
It's balancing of costs and benefits or risks or the
-
estimate of damages and what the economic benefits might be.
-
And inherent in that decision standard is this problem.
-
You've got costs that are pretty easy to quantify.
-
And if you've got a firm that's making a product,
-
they're going to tell you with pretty good accuracy their
-
opinion about what they would lose if you took that right away
-
from them to produce that product.
-
Now, by contrast, if you think about the damage