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Sustainability and Cost—Benefit Analysis

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  • C Pires

    (Faculty of Economics, Universidade Nova de Lisboa, Travessa Estêvaõ Pinto, Portugal)

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.

Suggested Citation

  • C Pires, 1998. "Sustainability and Cost—Benefit Analysis," Environment and Planning A, , vol. 30(12), pages 2181-2194, December.
    • Handle: RePEc:sae:envira:v:30:y:1998:i:12:p:2181-2194
    DOI: 10.1068/a302181
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