Abbreviations and acronyms

AF

Attributable factor

ANA

Attribute non-attendance

BAU

Business-as-usual

BCR

Benefit-cost ratio

BT

Benefits transfer

BWS

Best-worst scaling

CAA

Clean Air Act (United States)

CAPM

Capital asset pricing model

CBA

Cost-benefit analysis

CCAPM

Consumption-based capital asset pricing model

CEA

Cost-effectiveness analysis

CEA

Council of economic advisors

CER

Cost-effectiveness ratio

CGE

Computable general equilibrium

CO

Carbon monoxide

CO2

Carbon dioxide

COP

Conference of the Parties

CRA

Comparative risk assessment

CRRA

Constant relative risk aversion

CS

Compensating surplus

CT

Cheap talk

CV

Contingent valuation

CV

Compensating variation

CVM

Contingent valuation methods

DCE

Discrete choice experiments

DDR

Declining discount rates

DEFRA

Department for Environment, Food and Rural Affairs (United Kingdom)

DF

Discount factor

DICE

Dynamic Integrated Climate and Economy model

DiD

Difference-in-difference

DU

Discounted utilitarian social welfare function

EC

European Commission

ECS

Equilibrium climate sensitivity

ED

Expected value of development benefits

EIA

Environmental impact assessment

ELS

Entry Level Stewardship (United Kingdom)

ENPV

Expected net present value

EO

Executive Order

EP

Expected value (i.e. probability weighted) of preservation benefits

ES

Equivalent surplus

ES

Ecosystem services

ESM

Experience sampling method

ETS

Emission trading scheme

EUF

Expected utility framework

EUR

Euro

EV

Equivalent variation

EVRI

Environmental Valuation Reference Inventory

EW

Expected value obtained by waiting

FUND

Framework for Uncertainty, Negotiation and Distribution

GBD

Global burden of disease

GBP

Pound sterling

GDP

Gross domestic product

GHG

Greenhouse gas

GIS

Geographical information systems

GNI

Gross national income

HHA

Health-health analysis

HMT

Her Majesty’s Treasury

HPM

Hedonic price method

IA

Impact assessment

IAM

Integrated assessment models

IEG

Independent Evaluation Group (World Bank)

IIA

Independence from irrelevant alternatives

i.i.d.

Independent and identically distributed random variables

IPBES

Intergovernmental Science-Policy Platform on Biodiversity and Ecosystems

IPCC

Intergovernmental Panel on Climate Change

IRR

Internal rate of return

IWG

Interagency Working Group

KNPB

KwaZulu-Natal Parks Board

kWh

Kilowatt-hour

LCA

Life-cycle analysis

LCC

London congestion charge

LHS

Left-hand side

MAUT

Multi-attribute utility theory

MCA

Multi-criteria assessment

MPA

Marine protected areas

NAS

National Academy of Sciences (United States)

NB

Net benefit

NCC

Natural Capital Committee (United Kingdom)

NGO

Non-governmental organisation

NOAA

National Oceanic and Atmospheric Administration (United States)

NO2

Nitrogen dioxide

NOX

Nitrogen oxides

NPV

Net present value

NZD

New Zealand dollars

OECD

Organisation for Economic Co-operation and Development

ONS

Office for National Statistics, United Kingdom

OV

Option value

PAC

Public Accounts Committee (United Kingdom)

PAGE

Policy Analysis of Greenhouse gas Emissions

PES

Payments for environmental services

PM

Particulate matter

PM2.5

Particulate matter with a diameter below 2.5 microns

PM10

Particulate matter with a diameter below 10 microns

PV

Present value

QOV

Quasi-option value

RA

Risk assessment

RBA

Risk-benefit analysis

RHS

Right-hand side

RP

Revealed preference

RP

Risk premium

RPC

Regulatory Policy Committee (United Kingdom)

RPM

Revealed preference methods

RPM

Risk premium multiplier

RR

Relative risk

RRA

Risk-risk analysis

RSB

Regulatory Scrutiny Board (European Union)

RUM

Random utility model

SA

Scenario analysis

SC-CO2

Social cost of carbon dioxide

SCC

Social cost of carbon

SDG

Sustainable development goals

SDR

Social discount rate

SEA

Strategic environmental assessment

SOC

Social opportunity cost of capital

SOx

Sulphur oxides

SP

Stated preference

SPC

Shadow price of capital

SRTP

Social rate of time preference

SWB

Subjective well-being

SWF

Social welfare function

SWF

Sovereign wealth funds

TCM

Travel cost method

TCS

Transitory climate sensitivity

TEEB

The Economics of Ecosystems and Biodiversity

TEV

Total economic value

TSP

Total suspended particulates

TTWA

Travel to work area

TWTP

Total willingness-to-pay

TZS

Tanzanian Shillings

UK-NEA

UK National Ecosystem Assessment

UN

United Nations

UNEP

United Nations Environment Program

USD

Unites States dollars

US EPA

Unites States Environment Protection Agency

VSL

Value-of-a-statistical-life

VSLY (or VOLY)

Value-of-a-statistical-life-year

VT

Value transfer

WTA

Willingness-to-accept

WTP

Willingness-to-pay

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