Abstract
Environmental cost-benefit analysis (ECBA) is used for the social evaluation of investment projects and policies that involve significant environmental impacts. Economic valuation of environmental impacts forms one of the critical steps of ECBA. We develop a new method for this purpose, which does not require price estimation for environmental impacts using stated or revealed preference methods. Our approach is based on data envelopment analysis (DEA), which is modified to ECBA by using absolute shadow prices instead of relative prices. We also discuss how the method can be used for sensitive analysis in ECBA. We illustrate the method by means of a hypothetical numerical example. © 2007 Elsevier B.V. All rights reserved.
| Original language | English |
|---|---|
| Pages (from-to) | 56-65 |
| Number of pages | 9 |
| Journal | Ecological Economics |
| Volume | 62 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 1 Apr 2007 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth -
SDG 15 Life on Land
Keywords
- Cost-benefit analysis
- Data envelopment analysis
- Eco-efficiency
- Environmental performance
- Environmental valuation
- Performance measurement
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