Nordic Guidelines for Cost-benefit analysis

image of Nordic Guidelines for Cost-benefit analysis

Cost-benefit analysis is a recognised decision support tool with increasing importance in policy making. This publication is a proposal for a stat-of-the-art guideline for cost-benefit analysis in the waste management sector. One of the aims is to provide insight in life cycle assessment in order to improve the system analysis and the assessment of environmental effects in a cost-benefit analysis, thus combining key elements from these two decision support tools.



Monetary valuation

In principle, all the effects identified in the inventory should be assigned a monetary value. In this chapter it is discussed how to estimate the social costs and benefits of a project. The chapter is divided into two sections: in the first section valuation of marketed goods and services, i.e. goods that are traded in a market and hence have a market price, are discussed. The second section discusses valuation of goods that are normally not traded in a market, and where a market price does not exists. The latter includes environmental benefits.


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