The theory of social costs and costing for cost-benefit analysis in a fuzzy-decision space

Dompere, Kofi Kissi

doi:10.1016/0165-0114(94)00382-h

Cited by 14 publications

(8 citation statements)

References 45 publications

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“…This facility, financed by taxpayer's money, is located in Letnica, one of the city's most disadvantaged neighbourhoods. We proposed to investigate the relationship between MTG and its stakeholders through the lens of social costs and benefits analysis (Dompere, 1995), which may be viewed as a general framework for the analysis of private and social decisions to correctly account for possible costs and benefits.…”

Section: Discussionmentioning

confidence: 99%

Untitled

2017

JEMI

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Section: Discussionmentioning

confidence: 99%

Untitled

2017

JEMI

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“…With sustainability comprising of financial, social and environmental criteria, a multi-objective situation arises for sustainability assessment. There exist assessment techniques combining social, environmental and financial measures, which vary in ways of dealing with sustainability issues, namely measurables and non-measurables (Dompere, 1995). Measurables can directly be measured and expressed quantitatively, typically using LCA tools (ISO, 2006;Lehmann et al, 2013).…”

Section: Sustainability Assessment Techniquesmentioning

confidence: 99%

“…According to EPA (1995), social and environmental issues directly or indirectly incur costs on individuals, organizations and society. SEC attempts to extend market boundaries to nonmarket objects (Dompere, 1995;Lohmann, 2009;Mirasgedis et al, 2000), such that renews the conventional appraisal by inclusion of social and environmental externalities for correct investment decisions (Dascalu et al, 2010). Some examples include converting emissions or pollution to dollars using carbon credits or pollution rights traded in the market (Godoy and Saes, 2016;Lohmann, 2009).…”

Section: Social and Environmental Costing (Sec) Technique Combinesmentioning

confidence: 99%

“…Some examples include converting emissions or pollution to dollars using carbon credits or pollution rights traded in the market (Godoy and Saes, 2016;Lohmann, 2009). SEC eliminates the need for impact categories and weighting of inventory data (Swarr et al, 2011); however, choice of suitable indexes and monetization methods might be challenging (de Beer and Friend, 2006;Dompere, 1995). The SEC technique is employed in this paper, since it matches ROA with financial basis.…”

Section: Social and Environmental Costing (Sec) Technique Combinesmentioning

confidence: 99%

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Valuing Sustainability of Adaptable Infrastructure Using ROA-SEC: A Hybrid Approach

Taheriattar

2019

Int J. of BES

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Infrastructure providing fundamental services for societies may become obsolete under changing environments such as climate or demographics changes, creating the need for adaptability. Designing infrastructure for adaptability may affect life cycle costs as well as environmental and social issues such as resources consumption, waste production or disruption to services provided. Sustainability valuation of adaptable infrastructure is thus required. The Real Options Analysis (ROA) is widely used to evaluate financial viability of investing in adaptable infrastructure. But, the environmental and social aspects have been barely noticed and incorporated. Hence, a valuation method is required to properly address all aspects of sustainability. This paper bridges the gap and advances the literature by presenting a methodology for designed-in adaptability valuation, considering all the sustainability aspects. To this end, a hybrid approach is suggested through integration of Social and Environmental Costing (SEC) with ROA, providing a single measure for sustainability of adaptable infrastructure. In this approach, the outputs of Life Cycle Assessment (LCA) tools are monetized using SEC methods; and then incorporated in the ROA that is built on the probabilistic Discounted Cash Flow (DCF) analysis, suitable for engineering applications. The application of the proposed approach is illustrated on a case example involving seawalls under changing climate effects. For the case example, including sustainability issues in the analysis improved the viability of designing in adaptability. This conclusion cannot be generalized and each situation requires an individual analysis. However, the proposed approach and methodology will be the same in all the situations.

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“…The first category uses fuzzy analysis as a methodological tool, and applies it to conventional economic data (Fedrizzi et al ., 1993; Benaroch, 1996). The second category uses fuzzy logic to model specific features of an economic problem or economic system, such as preferences (Dompere, 1995), the degree of product similarity across firms and other market characteristics in an oligopoly (Mansur, 1995; Greenhut et al ., 1995), and firms' information on demand shocks in a trigger strategy game (Goodhue, 1998). The third category uses fuzzy rules to define players' strategies, such as firms' strategies in a collusion game (Aristidou and Sarangi, 2006) and firms' strategies in a spatial location–supply chain game (Bogataj and Usenik, 2005).…”

Section: Modeling Traditional Grazing Rightsmentioning

confidence: 99%

Traditional property rights, common property, and mobility in semi-arid African pastoralist systems

Goodhue¹,

McCarthy

2009

Envir. Dev. Econ.

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Traditional pastoralist land management institutions in sub-Saharan Africa have been stressed by an increasing human population and related forces, including private enclosure of grazing land; government-sponsored privatization; and the increasing prevalence of violent conflicts and livestock theft. We model the incompleteness and flexibility of traditional grazing rights using fuzzy set theory. We compare individual and social welfare under the traditional system to individual and social welfare under a private property system and a common property system. Whether the traditional system is preferred to private property depends on whether the value of mobility, as defined by the traditional system, is more valuable than the right of exclusion inherent in private property. We find that under some conditions the imprecision which characterizes traditional rights can result in higher social returns than a common property regime characterized by complete symmetric rights across all members of the user group and complete exclusion of non-members.

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The theory of social costs and costing for cost-benefit analysis in a fuzzy-decision space

Cited by 14 publications

References 45 publications

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Valuing Sustainability of Adaptable Infrastructure Using ROA-SEC: A Hybrid Approach

Traditional property rights, common property, and mobility in semi-arid African pastoralist systems

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