CERE Working Papers, CERE - the Center for Environmental and Resource Economics
A note on how to undertake a cost-benefit analysis in monetary and environmental units
() and Bengt Kriström
Abstract: In 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
Keywords: Cost-benefit analysis; externalities; choice of numeraire; habitat equivalence analysis; resource equivalency methods; (follow links to similar papers)
JEL-Codes: D61; H43; Q51; Q57; (follow links to similar papers)
9 pages, April 6, 2010
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