Tuesday, May 12, 2015
Estimates of costs and benefits of restoration projects
The benefit of coral reef restoration is greater than the cost in the long run
Benefit-Cost Analysis (BCA) is a tool for organizing information on the relative value of alternative public investments like environmental restoration projects. When the value of all significant benefits and costs can be expressed in monetary terms, the net value (benefits minus costs) of the alternatives under consideration can be computed and used to identify the alternative that yields the greatest increase in public welfare.
However, since environmental goods and services are not commonly bought or sold in the marketplace, it can be difficult to express the outputs of an environmental restoration project in monetary terms.
(source: http://www.edc.uri.edu/restoration/html/tech_sci/socio/bca.htm)
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