Professor Emeritus, Economics
Ph.D., Washington State University
Email: farrow@umbc.edu
Research Interests
Benefit-Cost, Environmental Economics and Risk Analysis.
Recent/Selected Publications
Solow, A. and S. Farrow. “Li and Pizer in the Short Run: A comment on discounting”. Journal of Environmental Economics and Management, Vol. 17, September, 2024.
Farrow, S. “The Net Benefit and Residual Cost from US Border Management of the Initially Inadmissible”, Journal of Benefit-Cost Analysis, 14(1):2023.
Farrow, S. and D. von Winterfeldt. “Retrospective Benefit-Cost Analysis of Security-Enhancing and Cost-Saving Technologies,” Journal of Benefit-Cost Analysis, 11(3):479-500. 2020.
“The Value of Homeland Security Research”, Risk Analysis, 40(3):450-475, 2019 (Von Winterfeldt, D., R. John, J. Eyer, A. Rose and H. Rosoff)
“Welfare Economics: Bridging the Partial and General Equilibrium Gap”, Journal of Benefit-Cost Analysis, Spring, 2018. JBCA Paper of the year, 2018 (with A. Rose)
“Cybersecurity: Integrating Information into the Microeconomics of the Consumer and the Firm”. Journal of Information Security, J. of Information Security, 7:281-290, 2016.
“Cybersecurity Investment Guidance: Extensions of the Gordon and Loeb Model”, J. of Information Security, 7:15-28, 2016 (with J. Szanton).
“Residual Risk Accounting: A Pilot Study”, Review of Income and Wealth, Summer, 2015.
“Slot Machine Payback Percentages: The Devil is in the Moment”, Journal of Gambling Business and Economics (with J. Costa, ) 8(2):55-71, 2014
Principles and Standards for Benefit-Cost Analysis, Farrow, S. and R. Zerbe, eds., Edward Elgar, Cheltenham, March, 2013.
“How (Not) to Lie with Benefit-Cost Analysis”, Economists’ Voice, December, 10(1):45-50, 2013.
“Comparing multi-state expected damages, option price and cumulative prospect measures for valuing flood protection”, Water Resources Research, 49(5):2638-2648, 2013 (with M. Scott).
“News and Social Costs: The Case of Oil Spills and Distant Viewers,” Journal of Benefit-Cost Analysis, 3(4):#4, pp. 1-22, 2012 (with D. Larson).
“A Missing Error Term in Benefit-Cost Analysis,” Environmental Science and Technology, 46(5):2523-2528, 2012.
“The Economics of Homeland Security Expenditures: Foundational Expected Cost-Effectiveness Approaches,” Contemporary Economic Policy, January, pp. 14-26, 2007.
(For a complete list of publications, see Curriculum Vitae)