Discussions about applied Cost Benefit Analysis are incomplete without the thorny issue of discounting emerging at some point. Indeed, since the calculation of Net Present Values (NPV), and hence the efficiency of a project or policy, hinges so crucially upon the level of the discount rate...

In this chapter a ‘watershed economics approach’ that could be applied in Cyprus is proposed which is composed of two important stages. In Stage I economic valuation techniques are used to establish the economic value of the competing demands for surface and groundwater, incorporating where...

The scarcity of water resources in both arid and temperate countries alike is one of the most pervasive natural resource allocation problems facing water users and policy-makers. In arid countries this problem is faced each day in the myriad of conflicts that surround its use.Water scarcity is a...

This paper reviews the arguments for and the implications of employing Declining Discount Rates (DDRs) in CBA and in the analysis of economic growth and sustainability. We show that there exist several growth models in which a relationship has been found between the long-run equilibrium under...