component trends and groups of trends that make up themes that give you a feel for what the broad changes are that are going on. And looking at new products, it can be useful to consider behavior of other programs and market experiences, and not just the same program, because a lot of things can be quite different from simple extrapolation of what has been done before. And finally, we want to institutionalize the analytic process, and that does not have to mean very detailed guidelines, like OMB's statements of what you have to do to discount future earnings, what rates to use. It would be a much more collaborative process in which researchers sharing information comment on each other's, across departments and agencies, as well as within programs. Next slide please. There is often confusion between what I've labeled as economic impact and economic value. Economic impact, I am
component trends and groups of trends that make up themes that give you a feel for what the broad changes are that are going on. And looking at new products, it can be useful to consider behavior of other programs and market experiences, and not just the same program, because a lot of things can be quite different from simple extrapolation of what has been done before. And finally, we want to institutionalize the analytic process, and that does not have to mean very detailed guidelines, like OMB's statements of what you have to do to discount future earnings, what rates to use. It would be a much more collaborative process in which researchers sharing information comment on each other's, across departments and agencies, as well as within programs. Next slide please. There is often confusion between what I've labeled as economic impact and economic value. Economic impact, I am