A proposed methodology for prioritizing project effects to include in cost-benefit analysis using resilience, vulnerability and risk perception
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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.
Torres Ortega , S , Hanley , N D & Diaz Simal , P 2014 , ' A proposed methodology for prioritizing project effects to include in cost-benefit analysis using resilience, vulnerability and risk perception ' , Sustainability , vol. 6 , no. 11 , pp. 7945-7966 . https://doi.org/10.3390/su6117945
© 2014 by the authors; licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution license (http://creativecommons.org/licenses/by/4.0/).