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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 case 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.

Suggested Citation

  • E B Barbier & A Markandya & D W Pearce, 1990. "Environmental Sustainability and Cost-Benefit Analysis," Environment and Planning A, , vol. 22(9), pages 1259-1266, September.
    • Handle: RePEc:sae:envira:v:22:y:1990:i:9:p:1259-1266
    DOI: 10.1068/a221259
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    1. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808.
    2. Erhun Kula, 1984. "Derivation of Social Time Preference Rates for the United States and Canada," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 99(4), pages 873-882.
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    1. repec:hrs:journl::y:2012:v:4:i:3:p:137-153 is not listed on IDEAS
    2. Harte, M. J., 1995. "Ecology, sustainability, and environment as capital," Ecological Economics, Elsevier, vol. 15(2), pages 157-164, November.
    3. Łukasz Mach & Karina Bedrunka & Ireneusz Dąbrowski & Paweł Frącz, 2021. "The Relationship between ROP Funds and Sustainable Development—A Case Study for Poland," Energies, MDPI, vol. 14(9), pages 1-19, May.
    4. Łukasz Mach & Karina Bedrunka & Anna Kuczuk & Marzena Szewczuk-Stępień, 2021. "Effect of Structural Funds on Housing Market Sustainability Development—Correlation, Regression and Wavelet Coherence Analysis," Risks, MDPI, vol. 9(10), pages 1-17, October.
    5. R. Turner, 2007. "Limits to CBA in UK and European environmental policy: retrospects and future prospects," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 37(1), pages 253-269, May.
    6. Tipparat Pongthanapanich, 2003. "Review of Mathematical Programming for Coastal Land Use Optimization," Working Papers 52/2003, University of Southern Denmark, Department of Sociology, Environmental and Business Economics.
    7. Michela Faccioli & Nick Hanley & Catalina M. Torres Figuerola & Antoni Riera Font, 2015. "Do we care about sustainability? An analysis of time sensitivity of social preferences under environmental time-persistent effects," Discussion Papers in Environment and Development Economics 2015-17, University of St. Andrews, School of Geography and Sustainable Development.
    8. Maurer, Rainer, 2015. "Auf dem Weg zur weltanschaulichen Bekenntnisschule: Das wirtschaftspolitische Leitbild der Hochschule Pforzheim," Beiträge der Hochschule Pforzheim 152, Pforzheim University.
    9. Walter Leal Filho & Jelena Barbir & Pınar Gökçin Özuyar & Enrique Nunez & Jose Manuel Diaz-Sarachaga & Bertrand Guillaume & Rosley Anholon & Izabela Simon Rampasso & Julia Swart & Luis Velazquez & The, 2022. "Assessing Provisions and Requirements for the Sustainable Production of Plastics: Towards Achieving SDG 12 from the Consumers’ Perspective," Sustainability, MDPI, vol. 14(24), pages 1-23, December.
    10. 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 Of ," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 25, pages 165-198, Abril.
    11. 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.
    12. Dietz, Simon & Neumayer, Eric, 2007. "Weak and strong sustainability in the SEEA: Concepts and measurement," Ecological Economics, Elsevier, vol. 61(4), pages 617-626, March.
    13. Bereket Araya & John Asafu‐Adjaye, 1999. "Returns to Farm‐Level Soil Conservation on Tropical Steep Slopes: The Case of the Eritrean Highlands," Journal of Agricultural Economics, Wiley Blackwell, vol. 50(3), pages 589-605, September.
    14. Quiggin, John C., 1992. "Discounting and Sustainability," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 60(02), pages 1-4, August.
    15. Dastan Bamwesigye & Petra Hlavackova & Andrea Sujova & Jitka Fialova & Petr Kupec, 2020. "Willingness to Pay for Forest Existence Value and Sustainability," Sustainability, MDPI, vol. 12(3), pages 1-16, January.
    16. Crawford, Eric W. & Kelly, Valerie A., 2001. "Evaluating Measures To Improve Agricultural Input Use," Staff Paper Series 11686, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    17. Cristian Mejia & Yuya Kajikawa, 2021. "The Academic Landscapes of Manufacturing Enterprise Performance and Environmental Sustainability: A Study of Commonalities and Differences," IJERPH, MDPI, vol. 18(7), pages 1-16, March.
    18. Blackman, Allen & Nelson, Per-Kristian & Mathis, Mitchell, 2001. "The Greening of Development Economics: A Survey," RFF Working Paper Series dp-01-08, Resources for the Future.
    19. Latoszek Ewa, 2021. "Fostering sustainable development through the European Digital Single Market," Economics and Business Review, Sciendo, vol. 7(1), pages 68-89, March.
    20. Yao Xiao & Yong-Qing Niu, 2015. "Output and Employment Effects of the Spread of Clean Coal Technology in China," Energy & Environment, , vol. 26(6-7), pages 1081-1097, November.
    21. Pang, Rui-Zhi & Deng, Zhong-Qi & Hu, Jin-li, 2015. "Clean energy use and total-factor efficiencies: An international comparison," Renewable and Sustainable Energy Reviews, Elsevier, vol. 52(C), pages 1158-1171.
    22. McKillop, William & Sarkar, Amin, 1996. "Sustainable development of forest resources in industrialized countries," Agricultural Economics, Blackwell, vol. 14(3), pages 175-184, August.

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