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Environmental Values

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Environmental Values

Value Typology in Cost-Benefit Analysis

Seth D. Baum

Environmental Values 21 (2012): 499-524. doi: 10.3197/096327112X13466893628184

ABSTRACT

Cost-benefit analysis (CBA) evaluates actions in terms of negative consequences (costs) and positive consequences (benefits). Though much has been said on CBA, little attention has been paid to the types of values held by costs and benefits. This paper introduces a simple typology of values in CBA and applies it to three forms of CBA: the common, money-based CBA, CBA based in social welfare, and CBA based in intrinsic value. The latter extends CBA beyond its usual anthropocentric domain. Adequate handling of value typology in CBA avoids analytical mistakes and connects CBA to its consequentialist roots.


KEYWORDS

Cost-benefit analysis, value typology, consequentialism, social welfare, welfare economics

REFERENCES to other articles in Environmental Values:

Existence Value, Welfare and Altruism. Jonathan Aldred

The Pragmatic Power and Promise of Theoretical Environmental Ethics: Forging a New Discourse J. Baird Callicott

Nonuse Values and the Environment: Economic and Ethical Motivations. Tom Crowards

Anthropocentrism: A Misunderstood Problem. Tim Hayward

The Consequentialist Side of Environmental Ethics. Daniel Holbrook

Preferences in their Place James Lenman

Convergence, Noninstrumental Value and the Semantics of 'Love': Reply to Norton.Katie McShane

Convergence, Noninstrumental Value and the Semantics of 'Love': Comment on McShane. Bryan G. Norton

Happiness and the Good Life. John O'Neill

On the Economic Value of Ecosystem Services. Mark Sagoff

Natura economica in Environmental ValuationKatrine Soma

How Much is that Ecosystem in the Window? The One with the Bio-diverse Trail. Clive L. Spash

CITATIONS in other Environmental Values articles

Editorial: Response and Responsibility. Clive L. Spash


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