Sunstein: Safer cars not worth the cost?

Can a federal regulation be worthwhile if its monetized costs exceed its monetized benefits? Consider the Department of Transportation’s decision last week to require rear-visibility cameras in essentially all new cars starting in 2018. The regulation will eventually affect millions of Americans, increasing the safety of those behind their cars, particularly children. Sound good? Here’s the problem: The Department of Transportation projects that the new regulation will cost between $546 million and $620 million - and perhaps as much as $924 million. That will mean an additional cost, per car, of $44 (for cars already equipped with a suitable visual display) to $142 (for cars without such a display).