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Quality of life and environmental social overhead impact
Author(s) -
McKean John R.,
Ericson Raymond K.
Publication year - 1975
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/wr011i006p00789
Subject(s) - externality , overhead (engineering) , environmental economics , environmental quality , quality (philosophy) , economics , public economics , population , plan (archaeology) , risk analysis (engineering) , business , microeconomics , natural resource economics , actuarial science , engineering , political science , sociology , philosophy , demography , archaeology , epistemology , law , history , electrical engineering
Conventional benefit‐cost analysis is criticized with respect to the measurement of benefits resulting from the provision of environment‐improving capital. It is argued that a population feedback similar to the Pigovian congestion externality may tend to thwart efforts to improve quality of life unless projects explicitly plan for these external effects.