IDEAS home Printed from https://ideas.repec.org/a/env/journl/ev21ev2123.html
   My bibliography  Save this article

Value Typology in Cost-Benefit Analysis

Author

Listed:
  • Seth D. Baum

Abstract

Cost-benefit analysis (CBA) evaluates actions in terms of negative consequences (costs) and positive consequences (benefits). Though much has been said on CBA, little attention has been paid to the types of values held by costs and benefits. This paper introduces a simple typology of values in CBA and applies it to three forms of CBA: the common, money-based CBA, CBA based in social welfare, and CBA based in intrinsic value. The latter extends CBA beyond its usual anthropocentric domain. Adequate handling of value typology in CBA avoids analytical mistakes and connects CBA to its consequentialist roots.

Suggested Citation

  • Seth D. Baum, 2012. "Value Typology in Cost-Benefit Analysis," Environmental Values, White Horse Press, vol. 21(4), pages 499-524, November.
    • Handle: RePEc:env:journl:ev21:ev2123
    as

    Download full text from publisher

    File URL: http://www.ingentaconnect.com/content/whp/ev/2012/00000021/00000004/art00008
    Download Restriction: downloads of articles require payment or registration of paid subscription
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Cost-benefit analysis; value typology; consequentialism; social welfare; welfare economics;
    All these keywords.

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:env:journl:ev21:ev2123. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Andrew Johnson (email available below). General contact details of provider: http://www.whpress.co.uk .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.