Methodology for Integrated Socio-economic Assessment of Multi-use Offshore Platforms


Koundouri P., Davila O. G. , Stithou M., Babalos V., Xepapadeas A., Anastasiou I., ...More

OCEAN OF TOMORROW: INVESTMENT ASSESSMENT OF MULTI-USE OFFSHORE PLATFORMS: METHODOLOGY AND APPLICATIONS - VOL 1, vol.56, pp.11-26, 2017 (Refereed Journals of Other Institutions) identifier

  • Publication Type: Article / Article
  • Volume: 56
  • Publication Date: 2017
  • Doi Number: 10.1007/978-3-319-55772-4_2
  • Title of Journal : OCEAN OF TOMORROW: INVESTMENT ASSESSMENT OF MULTI-USE OFFSHORE PLATFORMS: METHODOLOGY AND APPLICATIONS - VOL 1
  • Page Numbers: pp.11-26

Abstract

This chapter presents the methodology employed for the Integrated Socio-Economic Assessment (MISEA) of different designs of Multi-Use Offshore Platforms (MUOPs). The methodology allows for the identification, the valuation and the assessment of the potential impacts and their magnitude. The analysis considers a number of feasible designs of MUOP investments, and the likely responses of those impacted by the investment project. The approach provides decision-makers with a valuable tool to assess whether a MUOP project increases the overall social welfare and hence should be undertaken. This is performed under alternative specifications regarding platform design, the discount rate and the stream of net benefits, if a Cost-Benefit Analysis (CBA) is to be followed or a sensitivity analysis of selected criteria in a Multi-Criteria Decision Analysis (MCDA) framework. The methodology can support the implementation of policies aiming at achieving a good environmental status of the EU's marine waters and the protection of the resource base upon which marine-related economic and social activities depend.