Cost-Benefit Analysis Approach
The major aspect of this project is a full cost-benefit analysis of natural and grey infrastructure in Florida and Cancun. For the cost-benefit analysis of natural infrastructure and grey infrastructure, data required includes datasets consisting of the restoration and maintenance costs of natural and grey infrastructure, as well as monetized values of co-benefits of coral reefs and mangroves. These datasets will be in the form of CSV files (.csv) and XML files (.xml), derived from literature and case studies.
To perform the cost-benefit analysis, we will monetize co-benefits using publicly available sources of ecosystem services valuations, such as the Economics of Ecosystems and Biodiversity (TEEB) database. We will focus the CBA on the primary benefits for hotels and separate variables by direct use, indirect use, and non-use as detailed in Table 1. Costs for natural and grey infrastructure will be compiled from databases and interviews conducted with engineering and restoration companies. All costs and benefits will need to be converted to a common metric with necessary GDP deflator and purchasing power parity (PPP) conversions.
To quantify co-benefits, several methodologies will be explored. The table below illustrates the approaches to quantify these benefits.
To perform the cost-benefit analysis, we will monetize co-benefits using publicly available sources of ecosystem services valuations, such as the Economics of Ecosystems and Biodiversity (TEEB) database. We will focus the CBA on the primary benefits for hotels and separate variables by direct use, indirect use, and non-use as detailed in Table 1. Costs for natural and grey infrastructure will be compiled from databases and interviews conducted with engineering and restoration companies. All costs and benefits will need to be converted to a common metric with necessary GDP deflator and purchasing power parity (PPP) conversions.
To quantify co-benefits, several methodologies will be explored. The table below illustrates the approaches to quantify these benefits.