Pricing the Priceless: Cost-Benefit Analysis of Environmental Protection

By F. Ackerman, L. Heinzerling. 2002

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Valuing Environmental Factors in Cost-Benefit Analysis Using Data Envelopment Analysis (2006, neutral): “3 Yet, many economists and ecologists have pointed out numerous problems, challenges and concerns associated with ECBA (see e.g. Dorfman, 1996; Heinzerling and Ackerman, 2002; Ackerman and Heinzerling, 2004).”
The Revolution in Welfare Economics and Its Implications for Environmental Valuation and Policy (2004, background): “For example, at a 5% discount rate the life of one individual at the present is worth more than a billion people 500 years in the future (Heinzerling and Ackerman 2002).”
Metrics for optimising the multi-dimensional value of resources recovered from waste in a circular economy: A critical review (2017, background): “…comparability due to: methodological bias towards recognising only what can be monetised; (often) inconsistent results (Pickin, 2008); ethically questionable monetisation of human life (Ackerman and Heinzerling, 2002) and life-sustaining ecosystem services (G omez-Baggethun and Ruiz-P erez, 2011).”
The argument against a reductionist approach for measuring sustainable development performance and the need for methodological pluralism (2009, background): “An immediate outcome of this is that monetised values fed into aggregation tools such as CBA might be highly uncertain at best or in some cases not make sense at all (Heinzerling & Ackerman, 2002).”