A welfare economic analysis is carried out either as a cost-benefit analysis CBA or as a cost-effectiveness analysis CEA. Sensitivity analyses Sensitivity analyses should be performed in connection with socio-economic analyses. Socio-economic analyses Socio-economic analyses can help us assess the benefits and costs associated with climate change adaptation measures.
Instead, values are inferred from the hypothetical choices or tradeoffs that people make. Methods are under continuous debate and development.
For this survey, ISECA focussed on questions that determine the public perception of the phenomenon and on issues of socio-economic criteria using a variety of possible engagements.
An economic analysis of the budget shows the direct financial effect for each stakeholder, i.
The climate change adaptation area raises certain methodological issues. Methodological issues Uncertainty, the time perspective for benefits and costs, and the availability of data can be decisive for the quality and design of socio-economic analyses.
We use socio-economic analyses to calculate the value of advantages and disadvantages for society of different climate change adaptation measures. To provide a full picture of things, the cost of inaction should be held up against the costs of action in an overall cost-benefit analysis.