Evaluation of Nature Conservation

Recent literature shows a lively debate on how tocapture ecological and environmental aspects indifferent evaluation methods and the closely relatedissue of the (im)possibilities of monetization ofthese aspects. Although economists in general tend tofavour Cost-Benefit Analysis (CBA) aboveMulti-Criteria Analysis (MCA), part of the literaturesuggests that CBA falls short of being the onlydecision-making device for environmental problems,both for theoretical and practical reasons. This paperdiscusses both evaluation methods and the main resultsof a major, publicly-financed nature conservationproject in The Netherlands.