April 23, 2004
Applying Cost-Benefit Analysis to the Environment
To the Editor:
Malcolm G. Scully's "How Much Is a Manatee Worth?" discusses important issues about the use and misuse of cost-benefit analysis (The Chronicle Review, March 5). It relies on claims in a recent book by Frank Ackerman and Lisa Heinzerling. Because my work was described as flawed and a basis for an often-repeated story that greatly "aggravates" Ackerman and Heinzerling, and presumably concerned environmentalists, it may be informative to comment.
Scully accurately
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