Sustainability and Cost—Benefit Analysis

Cesaltina Pires

Environment and Planning A, 1998, vol. 30, issue 12, 2181-2194

Abstract: In this paper I address the issue of incorporating environmental sustainability in project appraisal. I extend the results of Barbier, Markandya, and Pearce on ‘operationalizing’ a concept of sustainability into appraisal methods for practical decisionmaking. I generalize their results in two directions. First, I abandon their implicit assumption that benefits and costs of a given project in a given period depend only on the level of activity of the project in the same period. Second, I address the issue of which portfolio of projects to choose. My results show how to modify the net present value criterion for choosing a set of projects in the presence of a sustainability constraint.

Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:sae:envira:v:30:y:1998:i:12:p:2181-2194

DOI: 10.1068/a302181

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