chapter fourteen
THE ECONOMIC THEORY AND MEASUREMENT OF ENVIRONMENTAL DAMAGE (BENEFIT):
Valuing the Environment
learning objectives
After reading this chapter you will be familiar with the following:
| • the marginal damage cost curve as representing the demand for environmental quality; |
| • the methodological issues of measuring benefit for social projects; |
| • the practical problems of eliciting willingness to pay for an environmental good or environmental bad; |
| • implicit measures of willingness to pay for environmental quality: |
| (a) the replacement cost approach; |
| (b) hedonic price approaches; |
| (c) the household production function approach; |
| (d) the contingent valuation method; |
| • environmental valuation methods and their applications in some empirical studies; |
| • a critical appraisal of the standard economic approaches to environmental valuation. |
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Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information:
Book title: Principles of Environmental Economics:Economics, Ecology and Public Policy.
Contributors: Ahmed M. Hussen - Author.
Publisher: Routledge.
Place of publication: London.
Publication year: 2000.
Page number: 287.
This material is protected by copyright and, with the exception of fair use, may
not be further copied, distributed or transmitted in any form or by any means.
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