Cost-Benefit Analysis and the Environment

Abstract

Environmental protection is now an integral part of public policies, at local, national and global levels. In all instances, the costs and benefits of policies and projects must be carefully weighed using a common monetary measuring rod. Many different categories of benefits and costs must be evaluated, such as health impacts, property damage, ecosystem losses and other welfare effects. Furthermore, many of these benefits or damages occur over the long term, sometimes over several generations, or are irreversible. This book addresses how we can evaluate these elements and give them a monetary value.