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Water quality management and the time profile of benefits and costs
Author(s) -
Parker Denny S.,
Crutchfield James A.
Publication year - 1968
Publication title -
water resources research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.863
H-Index - 217
eISSN - 1944-7973
pISSN - 0043-1397
DOI - 10.1029/wr004i002p00233
Subject(s) - amenity , social benefits , term (time) , cost–benefit analysis , natural resource economics , water quality , business , environmental economics , environmental planning , quality (philosophy) , pollution , environmental resource management , social cost , environmental science , water resource management , economics , finance , ecology , philosophy , physics , neoclassical economics , epistemology , quantum mechanics , biology
Economists, in evaluating the long‐term benefits in public works projects, have traditionally held that long‐term benefits will contribute very little to the total present worth of the benefits accrued over the life of the project. It is shown, however, that the long‐term social cost resulting from projects that cause water pollution cannot be neglected or assumed away in the host of practical cases where ‘amenity’ demands for good water quality in a project's area of influence are significant.