ENVR 201 Lecture Notes - Net Present Value, Economic Democracy, Complex System
8 Jan 2013
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Document Summary
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: of benefits today vs of benefits in the future (which will amount to more) 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. 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. Evaluate alternatives through history, institutions, and participatory consultation. Structure information and data (hierarchal scales and systems dimensions) Participation by citizens to select criteria and evaluate alternatives. Diffusing results (citizens" meeting, school visits, international symposium etc) Economic, social and environmental dimensions must be taken into consideration.
