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Environmental sustainability and cost - benefit analysis

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  • E B Barbier
  • A Markandya
  • D W Pearce

Abstract

Efforts to 'operationalize' a concept of sustainability into appraisal methods for practical decisionmaking have been few and generally unpersuasive. In this paper it is argued that this need not be the ease if a set of environmentally compensating, or `shadow' projects within an overall portfolio are used to ensure a sustainability objective of setting a constraint on the depletion and degradation of the stock of natural capital. This can be achieved through both a `weak' and a `strong' sustainability criterion. In both cases the resulting optimum differs from the efficient optimum of the conventional cost - benefit criterion, but the basic cost - benefit model remains intact.

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Bibliographic Info

Article provided by Pion Ltd, London in its journal Environment and Planning A.

Volume (Year): 22 (1990)
Issue (Month): 9 (September)
Pages: 1259-1266

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Handle: RePEc:pio:envira:v:22:y:1990:i:9:p:1259-1266

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Web page: http://www.pion.co.uk

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Cited by:
  1. Lele, Sharachchandra & Srinivasan, Veena, 2013. "Disaggregated economic impact analysis incorporating ecological and social trade-offs and techno-institutional context: A case from the Western Ghats of India," Ecological Economics, Elsevier, Elsevier, vol. 91(C), pages 98-112.
  2. R. Turner, 2007. "Limits to CBA in UK and European environmental policy: retrospects and future prospects," Environmental & Resource Economics, European Association of Environmental and Resource Economists, European Association of Environmental and Resource Economists, vol. 37(1), pages 253-269, May.
  3. Almansa Sáez, Carmen & Calatrava Requena, Javier, 2007. "La Problemática Del Descuento En La Evaluación Económica De Proyectos Con Impacto Intergeneracional: Tasa Ambiental Crítica Y Montante De Transferencia Intergeneracional/Discounting In The Context," Estudios de Economía Aplicada, Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 25, pages 165-198, Abril.
  4. Ian Bateman & Georgina Mace & Carlo Fezzi & Giles Atkinson & Kerry Turner, 2011. "Economic Analysis for Ecosystem Service Assessments," Environmental & Resource Economics, European Association of Environmental and Resource Economists, European Association of Environmental and Resource Economists, vol. 48(2), pages 177-218, February.
  5. Lázaro-Touza, Lara & Atkinson, Giles, 2013. "Nature, roads or hospitals? An empirical evaluation of ‘sustainable development preferences’," Ecological Economics, Elsevier, Elsevier, vol. 95(C), pages 63-72.
  6. Ilias P. Vlachos & George P. Malindretos, 2012. "Farm SMEs sustainability assessment based on Bellagio Principles. The case of Messinian Region, Greece," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(3), pages 137-153, December.
  7. Simon Dietz & Eric Neumayer, 2007. "Weak and strong sustainability in the SEEA: concepts and measurement," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library 3058, London School of Economics and Political Science, LSE Library.
  8. Quiggin, John C., 2001. "Environmental economics and the Murray-Darling river system," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, Australian Agricultural and Resource Economics Society, vol. 45(1), March.
  9. Tipparat Pongthanapanich, 2003. "Review of Mathematical Programming for Coastal Land Use Optimization," Working Papers, University of Southern Denmark, Department of Environmental and Business Economics 52/2003, University of Southern Denmark, Department of Environmental and Business Economics.
  10. Crawford, Eric W. & Kelly, Valerie A., 2001. "Evaluating Measures To Improve Agricultural Input Use," Staff Papers, Michigan State University, Department of Agricultural, Food, and Resource Economics 11686, Michigan State University, Department of Agricultural, Food, and Resource Economics.
  11. Mary Graham, 2006. "Sustainability: Meaning and Measurement with Application to Agriculture," Economics Series 2006_31, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
  12. repec:hrs:journl::y:2012:v:4:i:3:p:137-153 is not listed on IDEAS
  13. McKillop, William & Sarkar, Amin, 1996. "Sustainable development of forest resources in industrialized countries," Agricultural Economics: The Journal of the International Association of Agricultural Economists, International Association of Agricultural Economists, International Association of Agricultural Economists, vol. 14(3), August.
  14. Jean-Sauveur Ay & Jean-Marc Brayer & Jean Cavailhès & Pierre Curmi & Mohamed Hilal & Marjorie Ubertosi, 2012. "La valeur des attributs naturels des terres agricoles de Côte-d'Or," INRA UMR CESAER Working Papers, INRA UMR CESAER, Centre d'’Economie et Sociologie appliquées à l'’Agriculture et aux Espaces Ruraux 2012/1, INRA UMR CESAER, Centre d'’Economie et Sociologie appliquées à l'’Agriculture et aux Espaces Ruraux.
  15. McKillop, William & Sarkar, Amin, 1996. "Sustainable development of forest resources in industrialized countries," Agricultural Economics, Blackwell, Blackwell, vol. 14(3), pages 175-184, August.
  16. Harte, M. J., 1995. "Ecology, sustainability, and environment as capital," Ecological Economics, Elsevier, Elsevier, vol. 15(2), pages 157-164, November.
  17. Quiggin, John C., 1992. "Discounting and Sustainability," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, Australian Agricultural and Resource Economics Society, vol. 60(02), August.

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