A note on how to undertake a cost-benefit analysis in monetary and environmental units
AbstractIn this note we discuss two alternative ways of undertaking a social cost-benefit analysis. One approach is the conventional one where benefits and costs are expressed in monetary units. The other approach uses an environmental asset as the payment vehicle. The properties of the two approaches are discussed and the measurement problems are stressed.
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Bibliographic InfoPaper provided by CERE - the Center for Environmental and Resource Economics in its series CERE Working Papers with number 2010:1.
Length: 9 pages
Date of creation: 06 Apr 2010
Date of revision:
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Web page: http://www.cere.se
Cost-benefit analysis; externalities; choice of numeraire; habitat equivalence analysis; resource equivalency methods;
Find related papers by JEL classification:
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
- H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
- Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
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- Patrick POINT (GREThA, CNRS, UMR 5113), 2012. "Valuation of wetland ecosystems services. Some methodological principles (In French)," Cahiers du GREThA 2012-19, Groupe de Recherche en Economie Théorique et Appliquée.
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