ABSTRACT

In the concluding chapter of The Benefits of Environmental Improvement: Theory and Practice, Freeman claimed:

Suppose the administrator of EPA wished to know the magnitude of the benefits accruing from a given pollution control policy. If asked, I believe an economist could specify the economic theory and models he would use, the data he would like to have, and the empirical techniques he would apply to the data to obtain measures of benefits.

(Freeman 1979, 248)