1 / 6

Sustainable Development: Assessing Economic Impacts and External Costs in Europe

This European Commission report explores economic assessment and sustainable development, focusing on non-declining welfare, trade-offs, externalities, and the internalization of external costs in energy. It delves into valuing externalities, willingness to pay, methodology, understanding risks, public goods, and uncertainty in decision-making for policy effectiveness.

nikkos
Download Presentation

Sustainable Development: Assessing Economic Impacts and External Costs in Europe

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Economic assessment and sustainable development Mark Hayden* External costs of energy and their internalisation in Europe: Dialogue with industry, NGO, and policy-makers December 9, 2005 * European Commission DG Economic and Financial Affairs

  2. Economic assessment and sustainable development • Non-declining welfare • Flows of goods and services • Trade-offs • Externalities & external costs

  3. The value of a statistical life • US: $6 million + • EU: €1 million • Why the difference?

  4. Valuing externalities Willingness to pay Willingness to accept Externalities Avoided damage Hedonic pricing

  5. Methodology • Willingness to pay – for what? • Public understanding of risk & probability • 5 in 1000 or 10 in 1000 • “Anchoring” • Public goods/free riding • Mean or median?

  6. Uncertainty • Physical impacts • Values of impacts • Costs • Policy effectiveness • How can we communicate this to decision makers?

More Related