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Monetizing Animal Welfare Impacts for Benefit–Cost Analysis

Published online by Cambridge University Press:  25 April 2024

Mark Budolfson*
Affiliation:
Department of Geography and the Environment, Department of Philosophy, Population Wellbeing Initiative, University of Texas at Austin, Austin, TX, USA
Romain Espinosa
Affiliation:
CNRS, CIRED, Paris, France
Bob Fischer
Affiliation:
Department of Philosophy, Texas State University and Rethink Priorities, San Marcos, TX, USA
Nicolas Treich
Affiliation:
Toulouse School of Economics, INRAE, Toulouse, France
*
Corresponding author: Mark Budolfson; Email: mark.budolfson@austin.utexas.edu
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Abstract

Animal welfare is often ignored in decision-making, despite widespread agreement about its importance. This is partly because of a lack of quantitative methods to assess the impacts of policies on humans and nonhumans alike on a common scale. At the same time, recent work in economics, philosophy, and animal welfare science has made progress on the fundamental theoretical challenge of estimating the well-being potential of different species on a single scale. By combining these estimates of each species’ well-being potential with assessments of how various policies impact the quality of life for these species, along with the number of animals affected, we can arrive at a framework for estimating the impact of policies on animal health and well-being. This framework allows for a quantifiable comparison between policies affecting humans and animals. For instance, it enables us to compare human QALYs to animal QALYs tailored to specific species. Hence, the intrinsic value of animal welfare impacts of policies can be monetized on the same scale as market and non-market impact for humans, facilitating benefit–cost analysis. Many challenges remain though, including issues of population ethics, political feasibility, and new complexities in addressing equity and uncertainty.

Information

Type
Article
Creative Commons
Creative Common License - CCCreative Common License - BY
This is an Open Access article, distributed under the terms of the Creative Commons Attribution licence (http://creativecommons.org/licenses/by/4.0), which permits unrestricted re-use, distribution and reproduction, provided the original article is properly cited.
Copyright
© The Author(s), 2024. Published by Cambridge University Press on behalf of Society for Benefit-Cost Analysis