Per-Olov Johansson is Professor emeritus in economics at the Stockholm School of Economics. He has held a professorship (II) in health economics at the department of Economics at the University of Oslo and a professorship in resource and environmental economics at the Swedish University of Agricultural Sciences, Umea. He has published more than 10 books internationally and more than 100 journal articles and book chapters. Bengt Kristrom is Professor of Resource Economics (SLU-Umea) and Research Director, CERE, Sweden. His research is widely cited (top 1000 economists according to a 2002 compilation) and includes 50+ papers and 10 books. He has been a consultant to several international organizations, including the OECD and, at numerous occasions, the Swedish Government. He has organized the Ulvonainternational Conference on Environmental Economics since 1993.

• Preface.- 1 Introduction.- 2 Origins of CBA of Wter Use Conflicts.- 3 A Simple Cost-Benefit Rule.- 4 The Main Items in the Cost-Benefit Analysis.- 5 Towards Empirical Measurement of Externalities.- 6 Blueprint for a CBA.- 7 Concluding Remarks.- 8 References.- 9 Appendices.- Index.