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Assessing Benefits for Environmental Decision Making | ECON - Managerial Economics, Quizzes of Managerial Economics

Class: ECON - Managerial Economics; Subject: Economics; University: Washington & Jefferson College; Term: Forever 1989;

Typology: Quizzes

2009/2010

Uploaded on 11/13/2010

laxdud02
laxdud02 🇺🇸

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TERM 1
Benefit-Cost Analysis
DEFINITION 1
Underlies much of economic theory. Used to evaluate the
associated gains and losses to society
TERM 2
Incremental
Benefits
DEFINITION 2
The reduction(change) in health, ecological, and property
damages associated with an environmental policy initiative
(The difference from the new level of tsb after policy is
implemented minus the baseline of tsb before the policy is
implemented)
TERM 3
Understanding MSB
DEFINITION 3
At each level of abatement, MSB is measured as the vertical
distance from the horizontal axis up to the demand curve
TERM 4
Understanding the TSB
DEFINITION 4
an aggregation of these vertical distances of the msb
TERM 5
user value
DEFINITION 5
benefit derived from physical use of or access to an
environmental good
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TERM 1

Benefit-Cost Analysis

DEFINITION 1 Underlies much of economic theory. Used to evaluate the associated gains and losses to society TERM 2

Incremental

Benefits

DEFINITION 2 The reduction(change) in health, ecological, and property damages associated with an environmental policy initiative (The difference from the new level of tsb after policy is implemented minus the baseline of tsb before the policy is implemented) TERM 3

Understanding MSB

DEFINITION 3 At each level of abatement, MSB is measured as the vertical distance from the horizontal axis up to the demand curve TERM 4

Understanding the TSB

DEFINITION 4 an aggregation of these vertical distances of the msb TERM 5

user value

DEFINITION 5 benefit derived from physical use of or access to an environmental good

TERM 6

existence value

DEFINITION 6 benefit from the continuance of an environmental good