Search results for "VALUATION"
showing 10 items of 2494 documents
Economic valuation of environmental benefits of removing pharmaceutical and personal care products from WWTP effluents by ozonation.
2013
Continuous release of pharmaceutical and personal care products (PPCPs) present in effluents from wastewater treatment plants (WWTPs) is nowadays leading to the adoption of specific measures within the framework of the Directive 2000/60/EC (Water Framework Directive). The ozonation process, normally employed for drinking water production, has also proven its potential to eliminate PPCPs from secondary effluents in spite of their low concentrations. However, there is a significant drawback related with the costs associated with its implementation. This lack of studies is especially pronounced regarding the economic valuation of the environmental benefits associated to avoid the discharge of …
Monetary valuation of salicylic acid, methylparaben and THCOOH in a Mediterranean coastal wetland through the shadow prices methodology
2018
The presence of pharmaceutical and personal care products and drugs of abuse (PPCPs) in wastewater treatment plants (WWTPs) indicates discharge of the effluent may not be suitable for the ecological balance of water ecosystems, such as wetlands. These PPCPs degrade water quality, considered as an ecosystem service (ES), provoking serious environmental impacts. Assessing the monetary value of PPCPs can be used as a proxy for environmental status of the ES of water quality (ESWQ). Considering PPCPs as non-desirable outputs of WWTPs, the shadow prices methodology has been implemented using directional distance function to measure the environmental avoided cost of removing salicylic acid (SA), …
Shadow prices of emerging pollutants in wastewater treatment plants: Quantification of environmental externalities.
2017
Conventional wastewater treatment plants (WWTPs) are designed to remove mainly the organic matter, nitrogen and phosphorus compounds and suspended solids from wastewater but are not capable of removing chemicals of human origin, such as pharmaceutical and personal care products (PPCPs). The presence of PPCPs in wastewater has environmental effects on the water bodies receiving the WWTP effluents and renders the effluent as unsuitable as a nonconventional water source. Considering PPCPs as non-desirable outputs, the shadow prices methodology has been implemented using the output distance function to measure the environmental benefits of removing five PPCPs (acetaminophen, ibuprofen, naproxen…
The contingent equilibrium during imbalanced volcano tourism demand through fee estimation: An empirical analysis of tourism in Mt. Etna
2022
Volcanic sites can be considered strategic areas for conservation and protection policies, but such policies may involve considerable costs However, not only are volcanic sites often integral to the tourism industry and, hence, of potential significant benefit to local economies in general; entrance fee income from tourists can also contribute to management and conservation costs in particular. Nevertheless, seasonal variations in tourism demand, resulting in over-and under-tourism situations, may impact on both the level of income generated as well as on the sustainability of sites Therefore, based on a case study of Mt Etna in Italy, this study considers establishing appropriate entry fee…
Estimating the environmental and resource costs of leakage in water distribution systems: A shadow price approach.
2016
Water scarcity is one of the main problems faced by many regions in the XXIst century. In this context, the need to reduce leakages from water distribution systems has gained almost universal acceptance. The concept of sustainable economic level of leakage (SELL) has been proposed to internalize the environmental and resource costs within economic level of leakage calculations. However, because these costs are not set by the market, they have not often been calculated. In this paper, the directional-distance function was used to estimate the shadow price of leakages as a proxy of their environmental and resource costs. This is a pioneering approach to the economic valuation of leakage exter…
Technical assessment and evaluation of environmental models and software: Letter to the Editor
2011
International audience; This letter details the collective views of a number of independent researchers on the technical assessment and evaluation of environmental models and software. The purpose is to stimulate debate and initiate action that leads to an improved quality of model development and evaluation, so increasing the capacity for models to have positive outcomes from their use. As such, we emphasize the relationship between the model evaluation process and credibility with stakeholders (including funding agencies) with a view to ensure continued support for modelling efforts. Many journals, including EM&S, publish the results of environmental modelling studies and must judge the w…
Ambienti umidi effimeri e naturalità del paesaggio in Sicilia
2009
I luoghi umidi temporanei sono ambienti acquatici che alternano periodicamente una fase d’invaso ed una fase secca ed ospitano espressive fitocenosi adattate a queste peculiari condizioni. Indagini condotte tra il 2003 ed il 2009 hanno consentito di individuare, in Sicilia, oltre 200 siti, costituiti generalmente da diverse pozze o piccoli stagni. L’estrema fragilità di questi habitat li rende molto vulnerabili a qualunque tipo di alterazione ambientale e pertanto risultano essere indicatori molto sensibili della pressione antropica sul territorio. Infatti, la conservazione di questi biotopi non può prescindere da una corretta gestione del contesto territoriale che li circonda. Il presente …
Evaluating the citywide Edinburgh 20mph speed limit intervention effects on traffic speed and volume: A pre-post observational evaluation.
2021
Objectives Traffic speed is important to public health as it is a major contributory factor to collision risk and casualty severity. 20mph (32km/h) speed limit interventions are an increasingly common approach to address this transport and health challenge, but a more developed evidence base is needed to understand their effects. This study describes the changes in traffic speed and traffic volume in the City of Edinburgh, pre- and 12 months post-implementation of phased city-wide 20mph speed limits from 2016–2018. Methods The City of Edinburgh Council collected speed and volume data across one full week (24 hours a day) pre- and post-20mph speed limits for 66 streets. The pre- and post-sp…
The Risk-Relevance of Accounting Data: Evidence from the Spanish Stock Market
2006
This paper analyses the relevance of accounting fundamentals to inform about equity risk as measured by the cost of equity capital. Assuming the latter is a summary measure of how investors make decisions regarding the allocation of resources, the strength of the association between the cost of capital and the accounting-based measures of risk indicates how important these measures are for market participants when making economic decisions. To infer the cost of equity capital, we use the O'Hanlon and Steele's method, which is based on the residual income valuation model. Moreover, we use the insights from this model to provide a theoretical underpinning for the choice of the accounting vari…
Stock Earnings and Bond Yields in the US 1871 - 2016: The Story of a Changing Relationship
2018
Using historical data that spans almost 150 years, we examine whether there is a long-run equilibrium relationship between the stock's earnings and bond yields. The novelty of our econometric methodology consists in using a vector error correction model where we allow multiple structural breaks in the equilibrium relationship. The results of our analysis suggest the existence of equilibrium relationship over 1871-1929 and 1958-2017. On the two historical segments, our analysis finds that the stock's earnings yield followed the bond yield in both the short- and long-run, but not the other way around. Perhaps the most important and surprising finding of our empirical study is that, after the …