Cost-Benefit Analysis and the Environment
Recent Developments
This book presents an in-depth assessment of the most recent conceptual and methodological developments in cost-benefit analysis and the environment. It examines how costs and benefits are evaluated and given monetary value, how to take into account impacts on future generations and impacts of irreversible losses, and how to deal with equity and sustainability issues.
Also available in: French
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Willingness to Pay vs. Willingness to Accept
Until recently, CBA has worked with concepts of willingness to pay (WTP) and willingness to accept compensation (WTA). Which concept is used depends on the assumption about property rights. If there is no right to the benefit of a project or policy, then WTP is the correct measure. If there is a right to the benefit, then WTA compensation to forego the benefit is the correct measure.
Also available in: French
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Click to download PDF - 507.46KBPDF
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