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A proposed methodology for prioritizing project effects to include in cost-benefit analysis using resilience, vulnerability and risk perception

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Author(s)

Saul Torres Ortega, Nicholas David Hanley, Pedro Diaz Simal

Abstract

Cost-benefit analysis (CBA) has emerged as one of the most widely used methodologies in environmental policy analysis, with many governments applying it in their decision-making procedures and laws. However, undertaking a full CBA is expensive, and conclusions must be drawn on which project or policy impacts to include in the analysis. Based on the ideas of resilience, vulnerability and risk, we suggest a method for prioritizing project impacts for inclusion in a CBA, which includes both expert assessment and citizen preferences. We then illustrate how the method can be applied in the context of land use change decisions, using a real application.

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Original languageEnglish
Pages (from-to)7945-7966
Number of pages22
JournalSustainability
Volume6
Issue number11
Early online date11 Nov 2014
DOIs
Publication statusPublished - Nov 2014

    Research areas

  • Cost-benefit analysis, Ranking, Impact analysis, Resilience, Vulnerability, Risk, Climate-change, Management, Systems, Criteria

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