SOSIPing, or Sophistical Obfuscation of Self-Interest and Prejudice

Abstract

Cost-benefit analysis tries to rationalize planning by giving notional monetary values to the factors involved, such as safety, health, convenience or environment. In reality no-one can say what human life, health, quiet, or even time are worth, and the assigned monetary values merely reflect the planner's prejudices. As well as positive deception, cost-benefit analysis misleads by importing so much complexity into planning as to conceal the fact that public authorities and their somewhat less visible backers often worsen the life of many in the interests of a few. Instead of current cost-benefit analysis, which is often just SOSIPing, statisticians, economists and OR workers should concen trate on multivariate cost-benefit analysis. This displays clearly the costs, advantages and disadvantages of alternative schemes, including not having a scheme, so that decision-makers and public can see clearly who is being planned for and who is being planned against.