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Cost-benefit analysis and the greenhouse effect

Spash, Clive L.; Hanley, Nick - 1994

This paper looks at the growing concern over Greenhouse Gas emissions and the resulting human induced climate change. The background to a cost-benefit approach is sketched in terms of the scientific understanding and expected impacts. Then the theory behind a cost-benefit approach is explained...

Persistent link: https://www.econbiz.de/10015231980

The Social Cost of Carbon and the Shadow Price of Carbon: what they are, and how to use them in economic appraisal in the UK

Price, Richard; Thornton, Simeon; Nelson, Stephen - 2007

This paper sets out: - a definition of the social cost of carbon, hitherto used in UK government appraisals to reflect the external costs of greenhouse gas emissions; - the rationale for adopting a shadow price of carbon (SPC) for use in policy and investment appraisals across UK government; and...

Persistent link: https://www.econbiz.de/10015253804

A note on the valuation of collective goods: overlooked input market free riding for non-individually incrementable goods

Graves, Philip E. - 2009

For at least fifty years economists have argued that vertically-aggregated marginal willingness to pay, when set equal to marginal provision cost, will result in optimal public good provision levels. This methodological approach would be expected to yield an exact analog, in terms of optimal...

Persistent link: https://www.econbiz.de/10015219957

Impact of Energy Price Reform on Environmental Emissions; A Computable General Equilibrium Approach

Manzoor, Davood; Haqiqi, Iman - 2012

An increase in energy prices will decrease fossil fuel consumption; on the other hand, the cost-push will encourage technology improvement for firms and households. These changes will affect the emission level. This paper studies the changes in yearly pollutant emissions after an energy price...

Persistent link: https://www.econbiz.de/10015265037

Incorporating Risk and Uncertainty in Cost-Benefit Analysis

Salci, Sener; Jenkins, Glenn - 2016

economic net present values (NPVs), incorporate a degree of risk and uncertainty. It is therefore critical that CBA is based on … transparent assumptions about the nature of risk and uncertainty affecting key variables: CBA cannot contribute to rational …-world risk and uncertainty generate numerous ex-ante outcomes at the point of appraisal. Correctly assessing risk and uncertainty …

Persistent link: https://www.econbiz.de/10015253304

Deliberative Monetary Valuation (DMV) in Theory

Spash, Clive L. - 2007

This paper explores and contrasts the different social processes of valuation now appearing as economic means of valuing the environment. Monetary valuation via stated preference approaches has been criticised for assuming well formed and informed preferences and excluding a range of...

Persistent link: https://www.econbiz.de/10015212497

Deliberative Monetary Valuation (DMV) in Practice

Spash, Clive L. - 2007

Economists concerned with validity, defined internally to the profession, are combining stated preference methods with participatory deliberation to address on-going criticism. DMV uses formal methods of deliberation to express values for environmental change in monetary terms. However, the...

Persistent link: https://www.econbiz.de/10015212498

The Contingent Valuation Method: Retrospect and Prospect

Spash, Clive L. - 2008

This paper explores the contingent valuation method for environmental valuation. Issues are raised over the validity of the approach as a method of assessing the underlying preferences of individuals. An alternative interpretation is given to the method as a means of exploring underlying...

Persistent link: https://www.econbiz.de/10015212544

Cost-benefit Analysis of Climate Change: Stern Revisited

Baer, Paul; Spash, Clive L. - 2008

This paper explores the insurmountable challenges facing orthodox economic approaches to assessing climate control as if it were a matter of weighing-up the costs of money spent to benefits as the returns on an investment. Such am appraisal method borrows form project appraisal for financial...

Persistent link: https://www.econbiz.de/10015212822

Optimal Carbon Taxes with Non-Constant Time Preference

Iverson, Terrence - 2013

Declining time preference rates have a large effect on optimal climate policy, but efforts to surmount time consistency concerns have forced modelers either to employ very simple models or to adopt quasi-hyperbolic rates. Using the integrated assessment model from Golosov, Hassler, Krusell, and...

Persistent link: https://www.econbiz.de/10015238619