This method takes into consideration the costs associated with the artificial reef site selection, permitting, deployment, monitoring, and other activities, and compares those costs to the suite of benefits that would be generated by the reef program. The benefits would include the total economic values associated with the overall public demand for the reef program. In this case, those benefit/cost analysis estimates would include values reflected in the market, as well as those values associated with user and non-user demand for reefs over and above that reflected by reef-related expenditures in local markets. These benefits are often referred to as consumer surplus. Foregone benefits of utilizing reef-related funds in the next best use within the region may be included as an opportunity cost. A benefit-to-cost ratio of greater than 1.0 suggests that the benefits associated with the program exceed the costs. This would be more desirable than a ratio less than 1.0, which would suggest that the costs derived from the reef program exceed the benefits. In the former case, the program would yield positive overall (net) economic benefits.
In one of the first such studies in Florida, Hanni and Mathews (1977) examined the costs associated with building an artificial reef system near Clearwater Beach. The intent of the study was to measure the potential economic benefits to anglers and divers who might utilize the reef. The study focused on the benefit-to-cost ratio of the reef program. The benefit-to-cost ratio for anglers was found to be greater than 1.0, while the benefit to cost ratio for divers was found to be less than 1.0.
Phd Thesis Cost Benefit Analysis
In 2010 the Ministry of Economic Development (MED), EECAâ€™s parent organisation, tendered a contract to carry out a full cost benefit analysis of the programme. The bid was won by a consortium including academics from He Kainga Oranga and Victoria University, and consultancy firms Motu Economic and Public Policy Research and Covec.
You’ll Succeed Even if the deadline is hard on heels
Aside from the purely biological benefits that might accrue from artificial reefs, many would argue that reefs are deployed to provide benefits to human users, whether commercial fishermen, recreational anglers, sport divers, or others. Milon, Holland, and Whitmarsh (2000) suggest that “a reef that is not useful to people is not a successful reef.” If this is an acceptable tenet, assessments of the economic benefits accruing from artificial reefs to surrounding communities are necessary. Such information provides insight into the degree to which the public benefit is being served by reef deployment and the economic consequences associated with reef use. The actual or potential economic impact of reef development to the county or state can be measured, as well as determine to what extent artificial reef deployment is an efficient public investment. In turn, this information may help justify future public expenditures on artificial reefs and assist in developing adaptive strategies associated with reef deployment as a resource management tool. Of course, there are costs associated with artificial reef program implementation. These costs must be measured as well.
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We speculated that the difference between household level costs and individual level hospitalisation rates could be explained by the duration of stay and cost of procedures that are factored into hospitalisation costs but not events data. It was for this reason that our household level results informed the final cost benefits analysis.
Motu primarily used a fixed effects OLS estimator with standard errors clustered by treatment/matched control pairings to analyse changes in total energy use and electricity use as a result of receiving an insulation or heat pump retrofit under WUNZ:HS.
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The economic benefits associated with artificial reefs in northwest Florida were measured by Bell, Bonn, and Leeworthy (1998). The purpose of the study was to assess the economic impact, user valuation, and benefit-to-cost ratio associated with artificial reefs located in the waters adjacent to Escambia, Santa Rosa, Okaloosa, Walton, and Bay Counties.