(Columbus, OH) - A best practices cost-benefit analysis has not been conducted on a statewide issue in over a decade according to a study released by Scioto Analysis Monday.
“While we were able to identify 27 studies published from 2012 to 2018 that assessed direct costs and measured outcomes in some way, we were unable to find a single study that monetized direct and indirect costs and benefits measured against a baseline, discounted outcomes, performed sensitivity analysis, and disclosed key assumptions,” said Rob Moore, principal of Scioto Analysis and author of the study.
The study also analyzed Ohio’s state policy analysis infrastructure. The study found that Ohio has fewer R1 research institutions and think tanks per capita than all its neighboring states and less legislative staff per capita than each neighboring state besides Indiana.
“Ohio has the opportunity to bolster its analysis infrastructure by building cost-benefit analysis into institutions such as the Legislative Service Commission and Common Sense Initiative regulatory analysis protocol,” said Moore.
As a first step, Scioto Analysis will be conducting some cost-benefit analyses on state issues later this year.