Regulation cost-added studies

Cost Added Studies. Cost added studies are typified by, for example, those of Dr. Paul Chenea, Vice President of Research at General Motors, who, in his paper, The Costs and Effects of Regulation. (8) documents very well the costs of regulation in his company. He concludes that we need "reasonable regulation" and that "research is hobbled by excessive regulation". 

Unfortunately, in the minds of many regulators the word laboratory may conjure up visions of fires, explosions, and highly toxic materials. For that reason, a laboratory planner should be prepared to present the proposed operation in great detail and to answer all questions, even those which may not seem relevant. Any work planned for the future should also be discussed, since the added cost of accommodating for it in the beginning may be just a fraction of what would have to be paid for later modifications. All pertinent facts must be revealed a minor omission could make a big difference in laboratory safety. A laboratory operator who has studied the various rules and regulations with care will have no problem handling such discussions. 

Therefore, without picking on an excellent piece of work -and I chose it just because it is - these types of studies, which I call "added cost studies", provide us with additional cost information due to regulation, but nothing we can really get our hands on with respect to innovation. 

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