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Project evaluation and the depletion of natural capital : an application of the sustainability principle (English)

In conventional economic analysis, the costs of natural capital are systematically underestimated due to individual short-term incentives of decision makers, the presence of externalities and the large uncertainties about the functioning of the biosphere. Inter-generational efficiency and justice require that future generations be actually, not only potentially, compensated for costs imposed on them by previous generations. To remedy the biases against...
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Von Amsberg,Joachim.

Project evaluation and the depletion of natural capital : an application of the sustainability principle (English). Environment Department working paper|no. ENV 56 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/281141493305447410

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