In this paper the results of an experiment comparing the dichotomous choice (DC) contingentvaluation (CV) approach with real purchase decisions for a consumer good are reported. In addition to comparing the standard DC CV approach with real decisions, we also test the hypothesis that a more...

This book provides an authoritative contribution to applied cost–benefit analysis (CBA) and other evaluation methods in the context of the regional policy of the European Union. Through the use of Structural Funds and other financial and regulatory mechanisms, the EU will help to promote...

We review key developments in the cost-benefit analysis of water projects, including conceptual and empirical issues. We emphasize general equilibrium and dynamics, in particular the links between economic and ecological systems.

Conventional cost-benefit rules typically assume that the alternative to the project under evaluation is “doing nothing” or “business as usual”. In this note we contrast this approach to one where the alternative is to provide another environmental good or service. We show that this...