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1) Engineering approach
estimates abatement expenditure based on leaset-cost technology

2) Survey approach
Use a sample of firms and public facilities to get estimated abatement expenditures

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Adverse effects on product quality, innovation, porductivity and market effects of policy

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Value of resources displaced & private costs of reallocating the resources

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Reduction in consumer & producer surplus associated w the policy

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Monitoring,adminstrative & enforcement costs of regulation

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Direct costs (buying, instaling, operating pollution equipment, changing production process & selling /reusing waste products

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Rfer to the value of any nonmonetary effects that negatively influende society's well being
e.g : value of diminished product due to a ban on certain inputs
Time costs of searching for substitutes
Reduced convenience of policy

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Explicit cost = administrative, monitoring and enforcement expenses of public sector = compliance cost by all sectors

Compliance cost of firms = caital cost + operating or variable costs ( of abatement)

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1) Damage function
2)Political referendum method
3)Contigent valuation method
4) Averting expenditure method
5) Travel cost method
6) Hedonic pricing method

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Total value of environmental quality = user value + existence value

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1) Primary benefits
Direct consequence of policy . e.g. increased health , ecology

2)Secondary Benefits
Indirect gain to society associated with policy implementation

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1) Concept of incremental benefits
ie reduction in health, ecological, property and other damages associated with an environmental policy inniative

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Issues relating to the use of BCA for policy evaluation 

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Issues relating to the use of BCA for policy evaluation 

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1) Measurement issue
2) Equity issue

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Compare PVNB with 0

IF PVNB > 0,policy is feasible
PVNB = present vallue of net benefit

calculation for PVNB
Total PV of benefit - Total PV of cost

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policy/ project is feasible when B-C ratio > 1

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accounts for changes in the general price level

Nominal value states an amt at current prices.

real value states an amount after adjustment for inflation

Defalting = when converting a nominal value into a real value

Real value of money =nominal value (1+p)t

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FV into PV
discounts a future value (fv) into its present value (PV) by accounting for the cost of money.

PV = FV (1/(1+r)t
discounting factor

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Determine feasibility of policy/ select the most feasible policy

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Determine feasibility of policy/ select the most feasible policy

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Adjust for opportunity cost and inflation

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Adjust for opportunity cost and inflation

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Done via present value determination

its the conversion of invest return received in future into its current value

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Assign monetary value to benefits and costs

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Assign monetary value to benefits and costs

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Benefit- Cost Analysis in Environmental Decision Making 

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Benefit- Cost Analysis in Environmental Decision Making 

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An analytucal tool in environmental decisioon making

A tool that assists in evaluating the viability of a project/policy