This unique addition to reference literature provides an introduction to the major concepts and contemporary issues that are essential for students of environmental science and environmental studies to know. With over 200 entries authored by world-class names like Anthony Brazel, John Day and Edward Keller, this text is divided into six sections: Environmental Science, Environments, Paradigms & Concepts, Processes & Dynamics, Scales & Techniques, and Environmental Issues.  

Cost-Benefit Analysis (CBA)

Cost-benefit analysis (CBA)

Most human actions involve an intuitive calculation, often unconscious, of the costs and benefits of a particular activity. Shall I kill this small animal, with a lot of noise, or shall I wait in case a bigger meal comes along, albeit without any certainty? With the coming of industrialization and the chance to commit large amounts of private or public finance, and the very real likelihood of causing environmental damage, a method of systematizing the likely cost of a project and the return from it was needed. The result was CBA. The process involves monetary value of initial and ongoing expenses versus expected return. Constructing credible measures of the costs and benefits of specific actions is often very difficult. In practice, ...

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