Environmental protection is now an integral part of public policies. The costs and benefits of policies and projects must be carefully weighed. Many different categories of costs and benefits must be evaluated: health impacts, property damage, ecosystem losses, and other welfare effects. This book presents an in-depth assessment of the most recent conceptual and methodological developments in cost-benefit analysis and the environment. It examines how costs and benefits are evaluated and given monetary value, how to take into account impacts on future generations and impacts of irreversible losses, and how to deal with equity and sustainability issues.