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It is therefore appropriate to consider all options in multimedia assessments, including reductions in the quantity of wastes generated or changes in their form. Because all decisions on policy have equity impacts, compensation mechanisms must be considered part of the decision to rectify equity imbalances. Economic analysis of alternatives entails comparison of benefits and costs and selection of the alternative having the highest net benefits (total benefits minus total costs). This benefit-cost criterion ignores the distribution of benefits and costs across groups.
Reduced productivity of commercial fisheries, reduced opportunities for recreation or agriculture, or increased illness or risk of death) and then the imputation of money measures of willingness to pay to avoid these effects. Consider, for example, the indirect costs of spreading sludge on land surfaces. If runoff from the land surface containing pollutants reaches surface waters and reduces the attractiveness or suitability of these waters for recreation, this is a cost. There are several economic models and techniques for predicting changes in recreation behavior as a function of (among other things) changes in the quality of water or changes in the probability of catching desirable species of fish.
6. 36 There is no threshold for information, that is, no definition of how much is necessary. No minimum amount of information is worth an undefined, large amount of money. The costs of obtaining additional information must be weighed against the benefits of acquiring it. National waste-management decisions and site-specific decisions require different information bases. The information developed in sitespecific and regional studies is not necessarily sufficient for national waste-management decisions.