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The contribution of economic thought and method to environmental management needs practical illustration. Too few books on the subject achieve such an outcome. This book is among the notable exceptions. That economics can provide a powerful vehicle for communicating an integrated understanding of the often diverse scientific findings germane to environmental im pact assessment needs to be illustrated convincingly. This book does just that. But it does more. It speaks across cultures: not to transfer know-how from one culture to another, but rather to activate an effective exchange of insights from one locale on the planet to another. As such, it is a genuine contribution to the great en vironmental exhortation of our times - think globally, act locally. Too often the people best placed to make such contributions are too committed to practical outcomes and making a living doing so. Just occasionally, however, they can be persuaded to make the special effort required to communicate globally. In this book, David James has once again orchestrated the contributions of vir tuoso performers. In doing so he has emulated the contribution he sustained throughout the International Drylands Project and preparation of the books written with John Dixon and Paul Sherman: The Economics ofDry/and Management and Case Studies in Dry/and Management (Earthscan, London). Taken together with his recent work as Special Commissioner for the path breaking national Forest and Timber Inquiry for the Australian Government, we have a body of work characterised by great worthiness, integrity and true global significance.
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THE APPLICAnON OF ECONOMIC TECHNIQUES IN ENVIRONMENTAL IMPACT ASSESSMENT Environment & Management VOLUME 4 The titles published in this series are listed at the end ofthis volume. THE APPLICATION OF ECONOMIC TECHNIQUES IN ENVIRONMENTAL IMPACT ASSESSMENT by David James Ecoservices Pty. Ltd., Whale Beach, NSW, Australia Springer-Science+Business Media, B.Y. A C.I.P. Catalogue record for this book is available from the Library of Congress. ISBN 978-90-481-4371-9 ISBN 978-94-015-8384-8 (eBook) 001 10.1007/978-94-015-8384-8 Printedon acid-freepaper All Rights Reserved © 1994 Springer Science+Business Media Dordrecht Originally published by Kluwer Academic Publishers in 1994. Softcover reprint of the hardcover Ist edition 1994 No part of the material protected by this copyright notice may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, without written permission from the copyright owner. TABLE OF CONTENTS Foreword Preface and Acknowledgements List of Contributors Chapter 1 by David James Concepts and Approach xi xi xv 1 Development and Environment Economics and EIA Theoretical Foundations and Value Judgements of Benefit-Cost Analysis Decision Criteria in Benefit-Cost Analysis Financial Analysis Benefits and Costs of Environmental Protection Handling Risk and Uncertainty Sustainable Development References Chapter 2 by David James EIA Procedure 2 6 8 13 16 19 22 26 31 33 Steps in EIA Procedure Formulation of Development Proposal by Proponent Scoping Assessment of Environmental Effects by Proponent Preparation of Preliminary Planning Document Assessment of Preliminary Planning Document by Determining Authority Conduct of the EIA - Economic Aspects Public Review of Draft EIS Preparation of Final EIS and Completion of Decision Process References Chapter 3 by David James Economic Valuation Techniques The Productivity Changes Approach The Loss of Earnings Approach The ReplacementlRepair Cost Approach The Shadow Project A