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Chapter

Valuing the Environment

Chapter

Valuing the Environment

DOI link for Valuing the Environment

Valuing the Environment book

Methods

Valuing the Environment

DOI link for Valuing the Environment

Valuing the Environment book

Methods
ByTom Tietenberg, Lynne Lewis
BookEnvironmental and Natural Resource Economics

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Edition 11 Edition
First Published 2018
Imprint Routledge
Pages 33
eBook ISBN 9781315208343

ABSTRACT

This chapter explores how people can move from the general concepts to the actual estimates of compensation required by the courts. It discusses an economic valuation techniques now include the ability to quantify a wide range of "nonuse" values as well as the more traditional "use" values. The chapter argues an economic valuation is based firmly upon human preferences. Proponents of deep ecology, on the other hand, would argue that allowing humans to determine the value of other species would have no more moral basis than allowing other species to determine the value of humans. It examines the most prominent, but certainly not the only, techniques available to supply policymakers with the information needed to implement efficient policy. Finding the total economic value of the service flows requires estimating three components of value: use value, option value, and nonuse or passive-use values.

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