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Sustainability 2014, 6(11), 7945-7966; doi:10.3390/su6117945

A Proposed Methodology for Prioritizing Project Effects to Include in Cost-Benefit Analysis Using Resilience, Vulnerability and Risk Perception

1
Department of Business Administration, University of Cantabria, E.T.S. Ingenieros de Caminos, C y P. Avda. de los Castros s/n, Santander 39005, Spain
2
Department of Geography and Sustainable Development, University of St Andrews, Fife KY16 9AJ, Scotland
3
Instituto de Hidráulica Ambiental "IH Cantabria", University of Cantabria, Avda. Isabel Torres 15, PCTCAN, Santander 39011, Spain
These authors contributed equally to this work.
*
Author to whom correspondence should be addressed.
Received: 26 September 2014 / Revised: 31 October 2014 / Accepted: 4 November 2014 / Published: 11 November 2014
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Abstract

Cost-benefit analysis (CBA) has emerged as one of the most widely used methodologies in environmental policy analysis, with many governments applying it in their decision-making procedures and laws. However, undertaking a full CBA is expensive, and conclusions must be drawn on which project or policy impacts to include in the analysis. Based on the ideas of resilience, vulnerability and risk, we suggest a method for prioritizing project impacts for inclusion in a CBA, which includes both expert assessment and citizen preferences. We then illustrate how the method can be applied in the context of land use change decisions, using a real application. View Full-Text
Keywords: cost-benefit analysis; ranking; impact analysis; resilience; vulnerability; risk cost-benefit analysis; ranking; impact analysis; resilience; vulnerability; risk
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Ortega, S.T.; Hanley, N.; Simal, P.D. A Proposed Methodology for Prioritizing Project Effects to Include in Cost-Benefit Analysis Using Resilience, Vulnerability and Risk Perception. Sustainability 2014, 6, 7945-7966.

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