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ENVR 201- Nov 5th-19th.doc

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McGill University
ENVR 201
Elena Bennett

Society, Sustainability and Environment- ENVR-201- 051 November 5th, 2012 Discounting and Multi-criteria Analysis Discounting: Is a part of CBA which prioritizes values to maximize intertemporal welfare The minimum rate of return that makes a project socially desirable to implement eg: $100 of benefits today vs $100 of benefits in the future (which will amount to more) Essentially assigns a price to time You can have positive (future worth less), 0 or negative discount (future is more) rates Net Present Value = present money value / (1+discount rate)^nyears Complexity: Complex systems can not be captured by a single perspective or dimension Different scales for analyzing a hierarchy indicates non-equivalent descriptions A range of values, perspectives, and dimensions must be considered Post-normal science is used when issues are pressing but facts are uncertain DIAFANIS Methodology: Why is there a conflict? Which alternatives exist? -Evaluate alternatives through history, institutions, and participatory consultation Which system dimensions can be affected? -Structure information and data (hierarchal scales and systems dimensions) How can alternatives be evaluated? -Participation by citizens to select criteria and evaluate alternatives What does transparency mean? -Diffusing results (citizens’ meeting, school visits, international symposium etc) Ethics: Economic, social and environmental dimensions must be taken into consideration Political and economic democracy, as well as sustainability, must be worked towards Current CBA methods are insuf
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