Is-it worth investing in NBS aiming at mitigating water risks? Insights from the economic assessment of NAIAD case studies

2020 ◽  
Author(s):  
Philippe Le Coent ◽  
Cécile Herivaux ◽  
Javier Calatrava ◽  
Roxane Marchal ◽  
David Mouncoulon ◽  
...  
Keyword(s):  
Risk Management ◽  
Cost Effectiveness ◽  
Case Studies ◽  
Economic Efficiency ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Economic Assessment ◽  
Physical Models ◽  
Valuation Methods ◽  
The Cost

<p>The economic advantage of NBS solutions aiming at mitigating water-risk is widely put forward as an argument for their development. There is nevertheless limited scientific evidence to support this argument. This paper therefore elaborates a methodological framework for the economic assessment of NBS and presents its application to three NAIAD case studies (the Lez catchment, France; Rotterdam, the Netherlands and Brague catchment, France). Robust methods are particularly applied for the estimation of the benefits associated with NBS. Physical models coupled with damage estimation models are developed to estimate the avoided damages generated by NBS. A diversity of ecosystem service valuation methods are also applied to evaluate the monetary value of NBS co-benefits: contingent valuation (Brague), choice experiment (Lez) and direct valuation methods (Rotterdam). We estimate the cost of implementation and maintenance mainly through the transfer of values coming from studies in similar contexts. Proxies are used to estimate the opportunity costs associated with the development of NBS. Finally, these estimations are compiled in a cost-benefit indicator allowing the estimation of the economic efficiency of NBS strategies. The study confirms that the cost of implementation and maintenance of NBS strategies is lower than the cost of grey solutions for the same level of water risk management, emphasizing the better cost-effectiveness of these solutions. Benefits in terms of avoided damages are however not sufficient to cover investment and maintenance costs. The cost–effectiveness of NBS strategies, which are combinations of individual NBS measures, may be improved by combining cost effective individual NBS measures. There is indeed a very large heterogeneity of cost-effectiveness of individual NBS measures (cost/m<sup>3</sup> of water retention). Results also reveal that co-benefits represent the largest share of the value generated by NBS strategies. It is therefore of utmost importance that co-benefits are integrated in the economic valuation of NBS for them to be judged economically efficient. This conclusion must be taken into account in the elaboration of NBS funding strategies.There is finally no clear-cut conclusion on the overall economic efficiency of NBS throughout the case studies. Lez reveal a positive cost-benefit analysis, while Rotterdam and Brague cases do not. Results are therefore case-specific and confirm the importance to carry out thorough economic valuations of a diversity of strategies at each sites, including NBS, grey and hybrid solutions, in order to identify the most adequate strategy for water risk management and to address territorial challenges.</p>

Study of Nanjing Demand Side Management Based on Cost-Benefit Analysis - Take Green Lighting as an Example

2015 ◽  
Vol 737 ◽  
pp. 260-268
Author(s):  
Qiu Hua Liu ◽  
Kun Xu ◽  
Hao Min Wang
Keyword(s):  
Cost Effectiveness ◽  
Electric Power ◽  
Development Strategy ◽  
Power Supply ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Demand Side Management ◽  
Demand Side ◽  
Electric Power Supply ◽  
The Cost

Electric power supply is one of the most important aspects of China’s national energy development strategy (NEDS). As major economic unit as well as major energy consumer, Jiangsu province is facing serious energy supply challenges. Under such circumstances, positive actions are taken by local government in respond to NEDS which put energy saving in the first place, and demand side management (DSM) is implemented. DSM is an important measure which can release rush hour electric supply pressure, enhance energy efficiency, optimize electric power utilization, and it is beneficial for sustainable development. This paper is based on the analysis of the current DSM situation of Nanjing, and green lighting is taken as an example. An empirical analysis is given to cost-effectiveness of the implementation of green lighting. Finally, the conclusion that the cost-effectiveness of the implementation of green lighting is economically viable to power supply companies, electric customers and the whole society is drawn.

Cost Benefit Analysis of Inert Gas Systems for Chemical and Product Tankers

2009 ◽  
Author(s):  
Martyn Thomas ◽  
Rolf Skjong
Keyword(s):  
Cost Effectiveness ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Inert Gas ◽  
Real Risk ◽  
Formal Safety Assessment ◽  
Potential Loss ◽  
The Cost ◽  
Oil Tankers ◽  
Potential Pollution

This paper details the work carried out to complete a Formal Safety Assessment (FSA) to assess the effectiveness of inert gas systems (IGS) in reducing the risk associated with cargo tank fire and explosions on chemical and oil tankers <20,000dwt. Two different IGSs are considered; N2 for chemical tankers and conventional oil burning type for oil tankers. N2 IGS is required on chemical tankers to preserve the quality of the chemicals transported on these ships. These IGS systems are evaluated with Cost Benefit Assessments (CBA) to ascertain their cost effectiveness with regards to reducing potential loss of life, potential loss of cargo, potential pollution and potential loss of property. In this respect, the Gross Cost of Averting a Fatality (GCAF) and Net Cost of Averting a Fatality (NCAF) are calculated using the standard FSA method recognized by the International Maritime Organization (IMO). Further, the Cost of Averting one Tonne of oil Spilled (CATS) (Skjong et al., 2005 & Vanem et al., 2008) is applied to understand the cost effectiveness of IGSs in preventing environmental pollution. The risk reduction is estimated from detailed considerations of the accident statistics for tankers >20,000dwt, where mandatory requirements for IGS was introduced in 1990. Comparison was made on risks resulting from accidents involving fire and/or explosion in the cargo tank of tankers of >20,000dwt for the period of 1978–1983, in which most such tankers were not provided with IGS; and for the period 1990–2005, in which all such tankers were provided with IGSs under the requirement of SOLAS Chapter II-2. The paper further assumes that tankers <20,000dwt that carry cargo with flashpoint <60°C should have IGS installed, whilst ships without IGS may continue carrying cargo with flashpoint >60°C. This way the question of requiring IGS is answered based on real risk of fire and explosion, and avoid introducing a rather arbitrary limit based on size of the ships.

scholarly journals Systematic Review of the Economic Evaluation of Returning Incidental Findings in Genomic Research

2021 ◽  
Vol 9 ◽  
Author(s):  
Mayara Fontes Marx ◽  
John E. Ataguba ◽  
Jantina de Vries ◽  
Ambroise Wonkam
Keyword(s):  
Economic Evaluation ◽  
Cost Effectiveness ◽  
Cost Analysis ◽  
Incidental Findings ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Utility ◽  
Genomic Sequencing ◽  
Benefit Analysis ◽  
The Cost

Objectives: Discussions regarding who and how incidental findings (IFs) should be returned and the ethics behind returning IFs have increased dramatically over the years. However, information on the cost and benefits of returning IFs to patients remains scanty.Design: This study systematically reviews the economic evaluation of returning IFs in genomic sequencing. We searched for published articles on the cost-effectiveness, cost-benefit, and cost-utility of IFs in Medline, Scopus, PubMed, and Google Scholar.Results: We found six published articles that met the eligibility criteria of this study. Two articles used cost analysis only, one used cost-benefit analysis only, two used both cost analysis and cost-effectiveness, and one used both cost-benefit analysis and cost-utility to describe the cost of returning IFs in genomic sequencing.Conclusion: While individuals value the IF results and are willing to pay for them, the cost of returning IFs depends on the primary health condition of the patient. Although patients were willing to pay, there was no clear evidence that returning IFs might be cost-effective. More rigorous economic evaluation studies of IFs are needed to determine whether or not the cost of returning IFs is beneficial to the patient.

scholarly journals A typology for catalyzing pedagogical change: Fostering multiple pathways through SoTL

2021 ◽  
Author(s):  
Deandra Little ◽  
Jessie L. Moore
Keyword(s):  
Case Studies ◽  
Teaching And Learning ◽  
Educational Development ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Pedagogical Change ◽  
Ecosystem Models ◽  
Scholarship Of Teaching ◽  
The Cost

AbstractBuilding on ecosystem models that examine individuals’ development within professional environments (Roxå, 2014; Hannah & Lester, 2009), we explore how campus centers for educational development and research can provide a range of experiences for faculty to learn about scholarship of teaching and learning (SoTL), conduct individual or collaborative – and sometimes multi-institutional – SoTL, and go public with their work. Using extended case studies of colleagues who have become increasingly more active in SoTL, we created a typology of the experiences that supported their development. The case studies illustrate that offering a variety of educational development options at different institutional levels and with different time commitments enables developers to meet faculty where they are – and to provide growth opportunities for deepening SoTL commitments. Our typology can help educational developers prioritize among potential programs by considering the cost-benefit analysis not only for individual faculty but also for micro-, meso-, and macro-level institutional cultures.

scholarly journals THE ANALYSIS AND ESTIMATION OF ECONOMIC EFFICIENCY OF RISK MANAGEMENT

2015 ◽  
pp. 72-83 ◽  
Author(s):  
V. A. Makarova
Keyword(s):  
Risk Management ◽  
Cost Effectiveness ◽  
Economic Impact ◽  
Economic Efficiency ◽  
Wide Range ◽  
The Cost ◽  
Corporate Government

Enterprise-wide risk management is a relatively new scientific and practical area of a corporate government, which has a special mission to deal with corporate risks and exposures and to achieve beneficial risk management outcomes. Risk management has a wide range of methods, techniques and tools, but quite expensive, but in the case of a successful application, can stimulate an increase in the company's value. Nevertheless, despite its relevance, risk management reluctantly introduced to the company, this is due, primarily, to the inability to pre-determine the economic impact of existing activities. Most methods for assessing the cost-effectiveness of risk management, as a rule, designed to assess the economic impact after the fact, in this article, the author has provided the tools for assessing the financial and economic impact of the implementation of risk management in advance.

Economic Evaluation of Hypertension Treatment

1992 ◽  
Vol 8 (3) ◽  
pp. 506-523 ◽  
Author(s):  
Magnus Johannesson
Keyword(s):  
Cost Effectiveness ◽  
Cost Benefit Analysis ◽  
Reliability And Validity ◽  
Cost Benefit ◽  
Computer Simulation Model ◽  
Benefit Analysis ◽  
Effectiveness Analysis ◽  
Highly Sensitive ◽  
Therapy Cost ◽  
The Cost

AbstractA computer simulation model shows that the cost-effectiveness of treating hypertension is highly sensitive to different assumptions about the effectiveness of treatment, the outcome measure, the cost concept, the discounting of effects, and the duration of therapy. Cost-effectiveness analysis should be supplemented by another approach–cost-benefit analysis based on the contingent valuation (CV) method (the measurement, by survey, of willingness to pay). The CV method is tested in two empirical applications that indicate that it is possible to use the method in this area. Its results should be interpreted with caution, however, since the reliability and validity of the method is not yet established.

scholarly journals Integrating cost–benefit analysis into the NIST Cybersecurity Framework via the Gordon–Loeb Model

2020 ◽  
Vol 6 (1) ◽  
Author(s):  
Lawrence A Gordon ◽  
Martin P Loeb ◽  
Lei Zhou
Keyword(s):  
Risk Management ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Effective ◽  
Benefit Analysis ◽  
Logical Approach ◽  
Explicit Recognition ◽  
Effective Level ◽  
The Cost

Abstract The National Institute for Standards and Technology (NIST) Cybersecurity Framework has rapidly become a widely accepted approach to facilitating cybersecurity risk management within organizations. An insightful aspect of the NIST Cybersecurity Framework is its explicit recognition that the activities associated with managing cybersecurity risk are organization specific. The NIST Framework also recognizes that organizations should evaluate their cybersecurity risk management on a cost–benefit basis. The NIST Framework, however, does not provide guidance on how to carry out such a cost–benefit analysis. This article provides an approach for integrating cost–benefit analysis into the NIST Cybersecurity Framework. The Gordon–Loeb (GL) Model for cybersecurity investments is proposed as a basis for deriving a cost-effective level of spending on cybersecurity activities and for selecting the appropriate NIST Implementation Tier level. The analysis shows that the GL Model provides a logical approach to use when considering the cost–benefit aspects of cybersecurity investments during an organization’s process of selecting the most appropriate NIST Implementation Tier level. In addition, the cost–benefit approach provided in this article helps to identify conditions under which there is an incentive to move to a higher NIST Implementation Tier.

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