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Cost-benefit analysis

A type of economic evaluation in which both the costs and consequences of different interventions are expressed in monetary units.

Source: CiREM Definitions 

CBA can be applied to items or services for which the market does not provide a satisfactory measure of value. The basis of the monetary quantification is usually willingness to accept or pay compensation for gains or losses.

There is a danger that costs and benefits that cannot be valued are simply ignored by decision-makers.

Source: GreenFacts

Non-market value - Value

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