This book provides an in-depth assessment of the most recent conceptual and methodological developments in the use of cost-benefit analysis where environmental issues are involved. Cost-benefit analysis is considered from its theoretical foundations and details are given of the stages involved in a cost-benefit analysis, decision rules, dealing with costs, total economic value, revealed preference valuation, stated preference valuation, option value, valuing ecosystem services, value of health / life, and equity including deriving the value of a statistical life, sustainability, benefits transfer, decision-making guidance and political economy.