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Eval11 Session 453: Sustainability and Economic Evaluation: Transforming "Is It Cost-Beneficial?" Into "Is It Sustainable? 

10-29-2011 16:44

Traditional economic evaluation asks whether a program or practice is cost-beneficial, i.e., whether the monetary value of its outcomes exceeds the monetary value of resources consumed to produce those outcomes. A program with a net positive benefit can be judged sustainable, however, only if the monetary value of resources is all that needs to be sustained. This could result in "sustainable" programs that consume irreplaceable resources. Money, of course, is not an actual resource: money is only a means of valuing and obtaining resources. From the perspective of sustainability, the primary question in cost-benefit evaluation is transformed into, "Does the program produce resources (e.g., services, space, energy, resource savings) that fully replace, or improve upon, the resources it consumes?" An example of cost-benefit analysis performed from a sustainability perspective is provided; more examples are developed with participation from members of the audience and the panel.

#economicevaluation #sustainability #2011Conference #CostsEffectivenessBenefitsandEconomics

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Uploaded - 10-29-2011