Cost–Benefit Analysis and the Environment

by Nick Hanley, Clive L. Spash

This book takes a fresh look at the application of cost benefit analysis (CBA) to environmental problems ranging from acid rain to global warming. Cost Benefit Analysis and the Environment is structured into three parts. Part one provides a critical up to date account of the theory and practice of CBA as applied to the environment. Part two focuses on a number of specific case studies, in particular acid rain, wilderness land use, recreation and nitrate pollution. Applications of CBA to the greenhouse effect and to nuclear power are included as illustrations of the limitations of the method. In Part three, the book summarizes the major problems CBA faces in environmental application. A series of alternatives are considered, but in conclusion, it is argued that CBA should retain a place in the decision making process for environmental management problems. This book should be relevant for the growing number of undergraduate and post-graduate courses in environmental economics and management, as well as being of interest both to academics researching in these areas, and to other professionals concerned with project appraisal and the environment.

288 pages, Hardcover

First published December 1, 1993

About the author

Nick Hanley is Professor of Environmental Economics at the University of Stirling, Scotland.