Resolving the problems of commensurability in valuing water

Petra Hellegers and Brian Davidson

Water International, 2021, vol. 46, issue 5, 637-651

Abstract: In this paper a framework is presented for comparing the values derived from the different dimensions of water, without incurring the problems of commensurability. The framework is based on the concept of opportunity cost, which values any good by what one is willing to sacrifice to get it, which is a way of comparing seemingly different things. By simulating changes to a water resource and then measuring the economic, social and environmental impacts in metrics common and accepted by each dimension, a curve of the trade-offs between each metric can be derived. This makes trade-offs intrinsic to decision-making explicit.

Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/02508060.2021.1935576 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:rwinxx:v:46:y:2021:i:5:p:637-651

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rwin20

DOI: 10.1080/02508060.2021.1935576

Access Statistics for this article

Water International is currently edited by James Nickum, Philippus Wester, Remy Kinna, Xueliang Cai, Yoram Eckstein, Naho Mirumachi and Cecilia Tortajada

More articles in Water International from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().