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Incorporating externalities in conservation programs
Author(s) -
Jordan Jeffrey L.
Publication year - 1995
Publication title -
journal ‐ american water works association
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.466
H-Index - 74
eISSN - 1551-8833
pISSN - 0003-150X
DOI - 10.1002/j.1551-8833.1995.tb06378.x
Subject(s) - externality , economics , environmental economics , natural resource economics , selection (genetic algorithm) , cost–benefit analysis , business , public economics , environmental resource management , microeconomics , computer science , ecology , artificial intelligence , biology
Internalizing externalities can influence the selection of new water resoures, the extension of existing supply sources, and utility costs and prices. As water utilities incorporate integrated resource planning in their management processes, it is necessary to incorporate the concept of externalities. This is particularly important as methods evolve of evaluating the costs and benefits of water conservation programs. The purpose of this article is to provide an introduction to the issues surrounding externalities, including their definition, methods of internalizing externalities, and a survey of ways to estimate costs and benefits of externalities. Although most discussions of externalities emphasize negative effects on the environment, this article will illustrate both positive and negative externalities associated with practicing water conservation.