Title
Bioremediation : how to deal with removal efficiency uncertainty? An economic application
Author
Faculty/Department
Faculty of Applied Economics
Faculty of Sciences. Bioscience Engineering
Publication type
article
Publication
London ,
Subject
Economics
Source (journal)
Journal of environmental management. - London
Volume/pages
127(2013) , p. 77-85
ISSN
0301-4797
ISI
000322940100010
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Abstract
Bioremediation is a remediation strategy, which has considerable strength but also certain limitations. Complex and uncertain relationships among biomass, contaminants, and nutrients lead to an uncertain level of removal efficiency. The uncertainty inherent to a bioremediation strategy should be addressed in the remediation selection process. In order to evaluate the bioremediation strategy economically, this study takes into account the reversibility of a decision. A decision tree structures the different remediation strategies, thus giving the possible courses of action open to the decision maker. The option value indicates the importance of having the possibility to reverse a previously made decision. Compared with conventional economic evaluation tools, more information to ground the selection made is revealed.
E-info
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