Reversibility as a sustainability criterion for project selection

REFERENCES

• Anderson , R. J. 1981 . A note on option value and the expected value of consumer's surplus. . Journal of Environmental Economic Management , 8 : 187 – 91 .
   Google Scholar
• Arrow , K. J. 1968 . “ Optimal capital policy with irreversible investment. ” . In Value, Capital, and Growth Edited by: Wolfe , J. N. Chicago : Adine-Atherton .
   Google Scholar
• Arrow , K. J. and Fisher , A. C. 1974 . Environmental preservation, uncertainty, and irreversibility. . Quarterly Journal of Economics , 88 ( 2 ) : 312 – 9 .
   Web of Science ®Google Scholar
• Barbier , E. B. 1987 . The concept of sustainable economic development. . Environmental Conservation , 14 ( 2 ) : 101 – 10 .
   Web of Science ®Google Scholar
• Bernanke , B. S. 1983 . Irreversibility, uncertainty, and cyclical investment. . Quarterly Journal of Economics , 98 : 85 – 106 .
   Web of Science ®Google Scholar
• Bishop , R. C. 1982 . Option value: an exposition and extension. . Land Economics , 58 ( 1 ) : 1 – 15 .
   Web of Science ®Google Scholar
• Bohm , P. 1972 . Option demand and consumer's surplus: comment. . American Economic Review , 65 : 233 – 6 .
   Google Scholar
• Boyce , J. K. 1994 . Inequality as a cause of environmental degradation. . Ecological Economics , 11 : 169 – 78 .
   Web of Science ®Google Scholar
• Cicchetti , C. J. and Freemann , A. M. III . 1971 . Option demand and consumer surplus: Further comment. . Quarterly Journal of Economics , 85 ( 3 ) : 528 – 39 .
   Google Scholar
• Conrad , J. M. 1980 . Quasi-option value and the expected value of information. . Quarterly Journal of Economics , 94 : 813 – 20 .
   Web of Science ®Google Scholar
• Cummings , R. and Norton , V. 1974 . The economics of environmental preservation: Comment. . American Econornic Review , 64 ( 6 ) : 1021 – 4 .
   Google Scholar
• Dirschl , H. J. , Novakowski , N. S. and Hosain Sadar , M. 1993 . Environmental auditing: Evolution of environmental impact assessment as applied to watershed modification projects in Canada. . Environmental Management , 17 ( 4 ) : 545 – 55 .
   Web of Science ®Google Scholar
• Duckstein , L. and Opricovic , S. 1980 . Multi-objective optimization in river basin development. . Water Resources Research , 16 ( 1 ) : 14 – 20 .
   Web of Science ®Google Scholar
• Erickson , P. A. 1994 . A Practical Guide To Environmental Impact Assessment Boston : Academy Press .
   Google Scholar
• Field , B. C. 1994 . Environmental Economics: An Introduction New York : McGraw Hill Inc. .
   Google Scholar
• Fiering , M. B. 1967 . Stream flow Synthesis Cambridge, MA : Harvard University Press .
   Google Scholar
• Fiering , M. B. 1969 . Forecasts with varying reliability. . Journal of Sanitation Engineering Division, ASCE , 95 ( 4 ) : 629 – 44 .
   Google Scholar
• Fiering , M. B. 1982 . A screening model to quantify resilience. . Water Resources Research , 18 ( 1 ) : 27 – 32 .
   Web of Science ®Google Scholar
• Fiering , M. B. and Holling , C. S. 1974 . Management and standards for perturbed ecosystems. . Agro-Ecosystems , 1 : 301 – 21 .
   Google Scholar
• Fisher , A. C. and Krutilla , J. V. 1974 . Valuing long run ecological consequences and irreversibility. . Journal of Environmental and Economic Management , 1 : 96 – 108 .
   Web of Science ®Google Scholar
• Fisher , A. C. , Krutilla , J. V. and Cicchetti , C. J. 1972 . The economics of environmental preservation: A theoretical and empirical analysis. . American Economic Review , 62 : 605 – 19 .
   Web of Science ®Google Scholar
• Fisher , A. C. , Krutilla , J. V. and Cicchetti , C. J. 1974 . The economics of environmental preservation; Further discussion. . American Economic Review , 64 ( 6 ) : 1030 – 9 .
   Google Scholar
• Freeman , A. M. III . 1984a . The quasi-option value of irreversible development. . Journal of Environmental and Economic Management , 11 : 292 – 5 .
   Web of Science ®Google Scholar
• Freeman , A. M. III . 1984b . The sign and size of option value. . Land Economics , 60 ( 1 ) : 1 – 13 .
   Web of Science ®Google Scholar
• Haimes , Y. Y. and Hall , W. A. 1977 . Sensitivity, responsivity, stability and irreversibility as multiple objectives in civil systems. . Advances in Water Resources , 1 ( 2 ) : 71 – 81 .
   Google Scholar
• Hashimoto , T. , Stedinger , J. R. and Loucks , D. P. 1982 . Reliability, resiliency, and vulnerability criteria for water resource system performance evaluation. . Water Resources Research , 18 ( 1 ) : 14 – 20 .
   Web of Science ®Google Scholar
• Henry , C. 1974a . Investment decisions under uncertainty: The irreversibility effect. . American Economic him , 64 ( 6 ) : 1006 – 12 .
   Web of Science ®Google Scholar
• Henry , C. 1974b . “ Option values in the economics of irreplacable assets ” . In Review of Economic Studies: Symposium on the Economics of Exhaustible Resources 89 – 104 .
   Google Scholar
• Holling , C. S. 1973 . Resilience and stability of ecological systems. . Annual Review of Ecological Systems , 4 : 1 – 23 .
   Google Scholar
• Linsay , C. M. 1969 . Option demand and consumer surplus. . Quarterly Journal of Economics , 83 : 344 – 6 .
   Google Scholar
• Miller , J. R. and Lad , F. 1984 . Flexibility, learning, and irreversibility in environmental decisions: A Bayesian approach. . Journal of Environmental and Economic Management , 11 : 161 – 72 .
   Web of Science ®Google Scholar
• Pal , K. and Rajappa , R. 1993 . EIA guidelines for water resources development projects. . Water Resources Development , 9 ( 2 ) : 189 – 204 .
   Google Scholar
• Pearce , D. W. and Warford , J. J. 1993 . World Without End: Economics, Environment, and Sustainable Development London : Oxford University Press .
   Google Scholar
• Pearce , D. , Barbier , E. and Markandya , A. 1990 . Sustainable Development Aldershot : Edward Elgar .
   Google Scholar
• Pindyck , R. S. 1991 . Irreversibility, uncertainty, and investment. . Journal of Economic Literature , 29 : 1110 – 48 .
   Web of Science ®Google Scholar
• Ryding , S. O. 1981 . Reversibility of man-induced eutrophication. Experiences of a lake recovery study in Sweden. . Int. Revue ges. Hydrobiol , 66 : 449 – 503 .
   Web of Science ®Google Scholar
• Schmalensee , R. 1972 . Option demand and consumer's surplus: valuing price changes under uncertainty. . American Economic Review , 62 ( 5 ) : 813 – 24 .
   Google Scholar
• Simonovic , S. P. 1989 . Application of water resources systems concept to the formulation of a water master plan. . Water International , 14 : 37 – 50 .
   Google Scholar
• UNESCO . 1995 . The Development and Management of Sustainable Water Resource Systems: Decision Support Methods and Experiences Paris : UNESCO .
   Google Scholar
• Usetagui , J. M. 1990 . Uncertainty, irreversibility, information and transformation cost. . Journal of Environmental and Economic Management , 19 : 73 – 85 .
   Google Scholar
• Viscusi , W. K. 1985 . Environmental policy choice with an uncertain chance of irreversibility. . Journal of Environmental and Economic Management , 12 : 28 – 43 .
   Web of Science ®Google Scholar
• Viscusi , W. K. 1988 . Irreversible environmental investment with uncertain benefit levels. . Journal of Environmental and Economic Management , 15 : 147 – 57 .
   Web of Science ®Google Scholar
• Weisbrod , B. 1964 . Collective-consumption services of individual-consumption goods. . Quarterly Journal of Economics , 78 : 471 – 7 .
   Web of Science ®Google Scholar
• World Commission on Environment and Development (WCED) . 1987 . Our Common Future London : Oxford University Press .
   Google Scholar
• Young , M. D. 1992 . Sustainable Investment and Resource Use: Equity, Environmental Integrity, and Economic Efficiency , Man and the Biosphere Series Paris and Casterton : UNESCO and Parthenon Publishing .
   Google Scholar
• Zeleny , M. 1973 . “ Compromise programming. ” . In Multiple Criteria Decision Making Edited by: Cochrane , J. L. and Zeleny , M. 262 – 301 . Columbia : University of Carolina Press .
   Google Scholar
• Zeleny , M. 1982 . Multiple Criteria Decision Making New York : McGraw-Hill Book Co. .
   Google Scholar