Reversibility as a sustainability criterion for project selection

International Journal of Sustainable Development and World Ecology

Volumn 4, Issue 4, 1997, Pages 259-273

  Fanai, Nick ^a   Burn, Donald H ^a  

^a UNIVERSITY OF MANITOBA   (Canada)

Author keywords

Criteria; Decision making; Reversibility; Sustainability

Indexed keywords

DECISION MAKING; IMPACT ASSESSMENT; PROJECT EVALUATION; SUSTAINABLE DEVELOPMENT;

EID: 0031448483     PISSN: 13504509     EISSN: 17452627     Source Type: Journal    
DOI: 10.1080/13504509709469961     Document Type: Article

References (47)

1. Anderson, R.J. (1981). A note on option value and the expected value of consumer's surplus. Journal of Environmental Economic Management, 8, 187-91
2. Arrow, KJ. (1968). Optimal capital policy with irreversible investment. In Wolfe, J.N. (ed.) Value, Capital, and Growth. (Chicago: Adine-Atherton)
3. Arrow, K.J. and Fisher, A.C. (1974). Environmental preservation, uncertainty, and irreversibility. Quarterly Journal of Economics, 88(2), 312-9
4. Barbier, E.B. (1987). The concept of sustainable economic development. Environmental Conservation, 14(2), 101-10
5. Bemankc, B.S. (1983). Irreversibility, uncertainty, and cyclical investment. Quarterly Journal of Economics, 98,85-106
6. Bishop, R.C. (1982). Option value: an exposition and extension. Land Economics, 58(1), 1-15
7. Bohm, P. (1972). Option demand and consumer's surplus: comment. American Economic Review, 65, 233-6
8. Boyce, J.K. (1994). Inequality as a cause of environmental degradation. Ecological Economics, 11,169-78
9. Cicchetti, C.J. and Freemann, A.M. (1971). Option demand and consumer surplus: Further comment. Quarterly Journal of Economics, 85(3), 528-39
10. Conrad, J.M. (1980). Quasi-option value and the expected value of information. Quarterly Journal of Economics, 94,813-20
11. Cummings, R. and Norton, V. (1974). The economics of environmental preservation: Comment. American Economic Review, 64 (6), 1021-4
12. Dirschl, H.J., Novakowski, N.S. and Hosain Sadar, M. (1993). Environmental auditing: Evolution of environmental impact assessment as applied to watershed modification projects in Canada. Environmental Management, 17(4), 545-55
13. Duckstein, L. and Opricovic, S. (1980). Multi-objective optimization in river basin development. Water Resources Research, 16(1), 14-20
14. Erickson, P. A. (1994). A Practical Guide ToEnvironmental Impact Assessment. (Boston: Academy Press)
15. Field, B.C. (1994). Environmental Economics: An Introduction. (New York: McGraw Hill Inc.)
16. Fiering, M.B. (1967). Stream/low Synthesis. (Cambridge, MA: Harvard University Press)
17. Fiering, M.B. (1969). Forecasts with varying reliability. Journal of Sanitation Engineering Division, ASCE, 95(4), 629-44
18. Fiering, M B. (1982). A screening model to quantify resilience. Water Resources Research, 18(1), 27-32.
19. Fiering, M. B and Holling, C.S. (1974).Management and standards for perturbed ecosystems. Agro-Ecosystems, 1, 301-21
20. Fisher, A. C. and Krutilia, J.V. (1974). Valuing long run ecological consequences and irreversibility. Journal of Environmental and Economic Management, 1, 96-108
21. Fisher, A.C., Krutilia, J. V and Cicchetti, C.J. (1972). The economics of environmental preservation: A theoretical and empirical analysis. American Economic Review, 62, 605-19
22. Fisher, A.C., Krntilla, J.V and Cicchetti, C.J. (1974). The economics of environmental preservation; Further discussion. American Economic Review, 64(6), 1030-9
23. Freeman, A.M. (1984a). The quasi-option value of irreversible development. Journal of Environmental and Economic Management, 11, 292-5
24. Freeman III, A.M. (1984b). The sign and size of option value. And Economics, 60(1), 1-13
25. Haimes, Y.Y. and Hall, W.A. (1977). Sensitivity, responsivity, stability and irreversibility as multiple objectives in civil systems. Advances in Water Resources, 1(2), 71-81
26. Hashimoto, T., Stedinger, J. R and Loucks, D.P. (1982). Reliability, resiliency, and vulnerability criteria for water resource system performance evaluation. Water Resources Research, 18 (1), 14-20
27. Henry, C. (1974a). Investment decisions under uncertainty: The irreversibility effect. American Economic Review, 64(6), 1006-12
28. Henry, C. (1974b). Option values in the economics of irreplacable assets. Review of Economic Studies: Symposium on the Economics of Exhaustible Resources, 89-104
29. Holling, C.S. (1973). Resilience and stability of ecological systems. Annual Review of Ecological Systems, 4, 1-23
30. Linsay, C.M. (1969). Option demand and consumer surplus. Quarterly Journal of Economics, 83, 344-6
31. Miller, J. R. and Lad, F. (1984). Flexibility, learning, and irreversibility in environmental decisions: A Bayesian approach. Journal of Environmental and Economic Management, 11, 161-72
32. Pal, K. and Rajappa, R. (1993). EIA guidelines for water resources development projects. Water Resources Development, 9(2), 189-204
33. Pearce, D. W. and Warford, J.J. (1993). World Without End: Economics, Environment, and Sustainable Development. (London: Oxford University Press)
34. Pearce, D., Barbier, E. and Markandya, A. (1990). Sustainable Development. (Aldershot: Edward Elgar)
35. Pindyck, R.S. (1991). Irreversibility, uncertainty, and investment. Journal of Economic Literature, 29,1110-48
36. Ryding, S.O. (1981). Reversibility of man-induced eutrophication. Experiences of a lake recovery study in Sweden. Int. Revueges. Hydrobiol, 66,449-503
37. Schmalensee, R. (1972). Option demand and consumer's surplus: valuing price changes under uncertainty. American Economic Review, 62(5), 813-24
38. Simonovic, S.P. (1989). Application ofwaterresources systems concept to the formulation of a water master plan. Water International, 14, 37-50
39. UNESCO (1995). The Development and Management of Sustainable Water Resource Systems: Decision Support Methods and Experiences. (Paris: UNESCO)
40. Usetagui, J.M. (1990). Uncertainty, irreversibility, information and transformation cost. Journal of Environ mental and Economic Management, 19,73-85
41. Viscusi, W.K. (1985). Environmental policy choice with an uncertain chance of irreversibility. Journal of Environmental and Economic Management, 12, 28-43
42. Viscusi, W.K. (1988). Irreversible environmental investment with uncertain benefit levels. Journal of Environmental and Economic Management, 15, 147-57
43. Weisbrod, B. (1964). Collective-consumption services of individual-consumption goods. Quarterly Journal of Economics, 78. 471-7
44. World Commission on Environmentand Development (WCED) (1987). Our Common Future. (London: Oxford University Press)
45. Young, M.D. (1992). Sustainable Investment and Resource Use: Equity, Environmental Integrity, and Economic Efficiency. Man and the Biosphere Series. (Paris and Casterton: UNESCO and Parthenon Publishing)
46. Zeleny, M. (1973). Compromise programming. In Cochrane, J. L. and Zeleny, M. (eds.) Multiple Criteria Decision Making, pp. 262-301. (Columbia: University of Carolina Press)
47. Zeleny, M. (1982). Multiple Criteria Decision Making. (New York: McGraw-Hill Book Co.)