scholarly journals Availability of Non-Market Values to Inform Decision-Making in Australian Fisheries and Aquaculture: An Audit and Gap Analysis

2021 ◽  
Vol 13 (2) ◽  
pp. 920
Author(s):  
Louisa Coglan ◽  
Sean Pascoe ◽  
Gabriela Scheufele
Keyword(s):  
Gap Analysis ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Management Options ◽  
Market Values ◽  
Trade Offs ◽  
Aquaculture Management ◽  
Stakeholder Workshop ◽  
Non Market Valuation ◽  
Inform Decision Making

Fisheries and aquaculture management can have impacts on economic, social and environmental outcomes. Assessing alternative management options requires an understanding of the different trade-offs between these outcomes. Cost–benefit analysis provides a framework in which these trade-offs can be assessed, but requires all costs and benefits to be enumerated in monetary terms. However, some impacts associated with fisheries and aquaculture, particularly environmental, have no explicit monetary value, so they require non-market values to be derived. In this study, we identify and prioritize, through a stakeholder workshop, non-market values that are of the most relevance to Australian fisheries and aquaculture managers. We assess the potential of existing studies to provide appropriate values for use by managers through a detailed review of available studies. We found a deficiency in the number of recent studies across all priority areas. Non-market valuation of recreational fishing has attracted the most attention previously in Australia, but studies in the last five years were found in only half of the states. Other priority non-market values have been estimated in only one or two states, and most have no estimates within the last five years. The results of the study highlight the need for further research in this area.

scholarly journals Photosynthesis research: a model to bridge fundamental science, translational products, and socio-economic considerations in agriculture

2020 ◽  
Vol 71 (7) ◽  
pp. 2281-2298 ◽  
Author(s):  
Ajay Kohli ◽  
Berta Miro ◽  
Jean Balié ◽  
Jacqueline d’A Hughes
Keyword(s):  
Economic Impact ◽  
Gap Analysis ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Preliminary Evidence ◽  
Fine Tuning ◽  
Transformative Power ◽  
Trade Offs ◽  
Product Acceptability ◽  
Socio Economic Impact

Abstract Despite impressive success in molecular physiological understanding of photosynthesis, and preliminary evidence on its potential for quantum shifts in agricultural productivity, the question remains of whether increased photosynthesis, without parallel fine-tuning of the associated processes, is enough. There is a distinct lack of formal socio-economic impact studies that address the critical questions of product profiling, cost–benefit analysis, environmental trade-offs, and technological and market forces in product acceptability. When a relatively well understood process gains enough traction for translational value, its broader scientific and technical gap assessment, in conjunction with its socio-economic impact assessment for success, should be a prerequisite. The successes in the upstream basic understanding of photosynthesis should be integrated with a gap analysis for downstream translational applications to impact the farmers’ and customers’ lifestyles and livelihoods. The purpose of this review is to assess how the laboratory, the field, and the societal demands from photosynthesis could generate a transformative product. Two crucial recommendations from the analysis of the state of knowledge and potential ways forward are (i) the formulation of integrative mega-projects, which span the multistakeholder spectrum, to ensure rapid success in harnessing the transformative power of photosynthesis; and (ii) stipulating spatiotemporal, labour, and economic criteria to stage-gate deliverables.

scholarly journals COVID-19: Rethinking the Lockdown Groupthink

2021 ◽  
Vol 9 ◽  
Author(s):  
Ari R. Joffe
Keyword(s):  
Public Health ◽  
High Risk ◽  
Cost Benefit Analysis ◽  
Health Care Systems ◽  
Herd Immunity ◽  
Cost Benefit ◽  
Risk Groups ◽  
School Closures ◽  
Trade Offs ◽  
Care Systems

The Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) has caused the Coronavirus Disease 2019 (COVID-19) worldwide pandemic in 2020. In response, most countries in the world implemented lockdowns, restricting their population's movements, work, education, gatherings, and general activities in attempt to “flatten the curve” of COVID-19 cases. The public health goal of lockdowns was to save the population from COVID-19 cases and deaths, and to prevent overwhelming health care systems with COVID-19 patients. In this narrative review I explain why I changed my mind about supporting lockdowns. The initial modeling predictions induced fear and crowd-effects (i.e., groupthink). Over time, important information emerged relevant to the modeling, including the lower infection fatality rate (median 0.23%), clarification of high-risk groups (specifically, those 70 years of age and older), lower herd immunity thresholds (likely 20–40% population immunity), and the difficult exit strategies. In addition, information emerged on significant collateral damage due to the response to the pandemic, adversely affecting many millions of people with poverty, food insecurity, loneliness, unemployment, school closures, and interrupted healthcare. Raw numbers of COVID-19 cases and deaths were difficult to interpret, and may be tempered by information placing the number of COVID-19 deaths in proper context and perspective relative to background rates. Considering this information, a cost-benefit analysis of the response to COVID-19 finds that lockdowns are far more harmful to public health (at least 5–10 times so in terms of wellbeing years) than COVID-19 can be. Controversies and objections about the main points made are considered and addressed. Progress in the response to COVID-19 depends on considering the trade-offs discussed here that determine the wellbeing of populations. I close with some suggestions for moving forward, including focused protection of those truly at high risk, opening of schools, and building back better with a economy.

Cost–benefit and water resources policy: a survey

Water Policy ◽  
2011 ◽  
Vol 14 (2) ◽  
pp. 250-280 ◽  
Author(s):  
Frank A. Ward
Keyword(s):  
Water Policy ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Trade Offs ◽  
Wide Range ◽  
Recent Developments ◽  
The Difference ◽  
Policy Cost ◽  
The Right

This paper reviews recent developments in cost–benefit analysis for water policy researchers who wish to understand the applications of economic principles to inform emerging water policy debates. The cost–benefit framework can provide a comparison of total economic gains and losses resulting from a proposed water policy. Cost–benefit analysis can provide decision-makers with a comparison of the impacts of two or more water policy options using methods that are grounded in time-tested economic principles. Economic efficiency, measured as the difference between added benefits and added costs, can inform water managers and the public of the economic impacts of water programs to address peace, development, health, the environment, climate and poverty. Faced by limited resources, cost–benefit analysis can inform policy choices by summarizing trade-offs involved in designing, applying, or reviewing a wide range of water programs. The data required to conduct a cost–benefit analysis are often poor but the steps needed to carry out that analysis require posing the right questions.

scholarly journals Alien Invasive Species Impacts on Large Lake Ecosystems and Their Economic Value

2019 ◽  
Vol 2 (5) ◽  
Keyword(s):  
Invasive Species ◽  
Ballast Water ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Alien Invasive Species ◽  
Treatment Technology ◽  
Lake Ecosystems ◽  
Trade Offs ◽  
Marine Invasions ◽  
The World

Globalization of trade and travel has made possible the spread of alien species across the planet. Invasive species are presently considered as one of the major threats to biodiversity in many locations throughout the world. Thousands of AIS have been transported globally by a number of anthropogenically-mediated vectors, including ship-mediated vectors (e.g., ballast water, hull-fouling), recreational boating, live bait, aquarium trade, live food fish, and unauthorized introductions. Ballast water is one of the leading vectors for transporting and introducing species, both in Canada and around the world, and is responsible for the transport of at least one third of all documented marine invasions. Since invasive species have no regard for political boundaries, efforts to prevent invasions need to be interjurisdictional. Given, also that invasive species often travel as contaminants of trade transfers, for example, in the ballast tanks of ships, reducing the spread of invasive species via this pathway would either require constraints on where ships travel, or the installation onto all ships of expensive ballast treatment technology, thereby increasing the cost of shipped goods. As such cost benefit analysis involves trade-offs with other activities, complicating decisions about how impacts can best be managed.

scholarly journals Warum Nachhaltigkeitsbeurteilungen Alternativen zu Kosten-Nutzen-Analysen erfordern

2011 ◽  
Vol 162 (11) ◽  
pp. 412-420
Author(s):  
Gertrude Hirsch Hadorn ◽  
Urs Allenspach ◽  
Georg Brun
Keyword(s):  
Sustainable Development ◽  
Forest Ecosystems ◽  
Sustainable Forest Management ◽  
Life Support ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Trade Offs ◽  
Sustainability Assessments ◽  
Critical Limits

Why alternatives to cost-benefit analysis in sustainability assessments are necessary Policies for sustainable forest management aim at maintaining forest ecosystems for sustainable development. Sustainable development as a societal mission comprises a diversity of factors that are neither hierarchically ordered nor freely compensable. Policies must therefore be assessed by a multidimensional criterion. Cost-benefit analysis provides a clear recommendation for a rational choice of policy. However, from a sustainability perspective, cost-benefit analysis has disadvantages, due to its methodological basis. Monetization and aggregation of preferences leave the reasons for measured preferences intransparent; trade-offs can occur arbitrarily; and it is not registered, whether and how critical limits of life support systems are affected. Avoiding these problems calls for assessment methods without aggregation or synthesising across heterogeneous standards. Dynamic decision theory provides ideas on how rational decisions can be taken based on a plurality of standards. The crucial ideas are prevention, precommitment, and a memory of past decisions. These can already be found in practice.

scholarly journals A Non-Market Valuation Approach to Environmental Cost-Benefit Analysis for Sanitary Landfill Project Appraisal

2021 ◽  
Vol 13 (14) ◽  
pp. 7718
Author(s):  
Nik Nor Rahimah Nik Ab Rahim ◽  
Jamal Othman ◽  
Norlida Hanim Mohd Salleh ◽  
Norshamliza Chamhuri
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Environmental Values ◽  
Market Valuation ◽  
Environmental Cost ◽  
Sanitary Landfill ◽  
Benefit Analysis ◽  
Project Appraisal ◽  
Implicit Prices ◽  
Non Market Valuation

Extensive non-engineered landfilling practice in developing countries has raised environmental concerns, but operating a sanitary landfill appears infeasible due to financial incapability. This study aims to determine the feasibility of a sanitary landfill project by including its environmental values into the project appraisal while simultaneously applying three policy-relevant methods—non-market valuation, benefits transfer, and cost-benefit analysis—in two study areas in Peninsular Malaysia. The non-market valuation study used choice modeling, a questionnaire-based technique, to elicit willingness to pay among 624 households toward the environmental attributes of the sanitary landfill. Their responses resulted in the monetary values of the environmental attributes by referring to implicit prices of leachate discharge, bad odor, disease vector and view. The implicit prices of bad odor (RM2.29 per month) and view (RM3.59 per month) in the two study areas were transferable and used as a proxy of additional solid waste disposal payment in environmental cost-benefit analysis. Positive net present value offers empirical evidence of the feasibility of the sanitary landfill project. The findings show that the inclusion of environmental values in project appraisals increases the chances of implementing sanitary landfills, providing a new approach to address the environmental concerns in developing countries. Future research should consider the external costs along with the external benefits to allow for a comprehensive comparison between environmental values in environmental cost-benefit analysis.

Same-sex marriage: the irrelevance of the economic approach to law

2010 ◽  
Vol 6 (2) ◽  
pp. 139-149
Author(s):  
Mark D. White
Keyword(s):  
Economic Analysis ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Economic Approach ◽  
Economic Analysis Of Law ◽  
Benefit Analysis ◽  
Same Sex ◽  
Same Sex Marriage ◽  
The Core ◽  
Trade Offs

AbstractSeveral noted legal scholars, most prominently Richard Posner, have applied the economic analysis of law to the debate over same-sex marriage. In this note, I argue that the economic approach to law is ill-equipped to deal with the issues of principle, dignity and rights that are at the core of the debate, regardless of the position taken on the issue. Other scholars, such as Darren Bush, acknowledge the shortcomings of the economic approach, such as the importance of the assumptions on which cost-benefit analysis is made, but they do not appreciate that this is symptomatic of the economic approach as a whole, not merely the application of it by some scholars in some cases. My contention is that the economic approach to law is appropriate regarding issues of policy, where trade-offs are essential and necessary, but not regarding issues of principle, with which trade-offs are not so easily made.

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