Disposal of industrial and domestic wastes. by Unknown

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Reduced productivity of commercial fisheries, reduced opportunities for recreation or agriculture, or increased illness or risk of death) and then the imputation of money measures of willingness to pay to avoid these effects. Consider, for example, the indirect costs of spreading sludge on land surfaces. If runoff from the land surface containing pollutants reaches surface waters and reduces the attractiveness or suitability of these waters for recreation, this is a cost. There are several economic models and techniques for predicting changes in recreation behavior as a function of (among other things) changes in the quality of water or changes in the probability of catching desirable species of fish.

Therefore, they may see the analytical problems in calculating externalities as less of a concern. 3 Scientific Uncertainty and the Value of Information Information gathering has a price. No single piece of information is worth acquiring “at any price,” and the costs of reducing uncertainty by acquiring new information should be balanced against potential benefits before data acquisition starts. Analytical methods exist for calculating the expected value of information should one wish to reduce uncertainty.

At least two things should be said here about cutting costs while still providing satisfactory facilities. First, construction engineers have claimed that complying with certain federal regulations regarding construction standards is costly and that those regulations often are not necessary. This suggests that there should be a thorough evaluation of the current criteria to eliminate costly and unnecessary design rules. Second, the delays that characterize every waste disposal project result in immense increases in cost that often make the projects far more expensive than necessary.

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