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Economic Valuation of the Environment

Hardback

Economic Valuation of the Environment

Methods and Case Studies

9781858986845 Edward Elgar Publishing
Guy Garrod, Reader in Environmental Economics, University of Newcastle upon Tyne, UK and Kenneth G. Willis, Emeritus Professor of Environmental Economics, University of Newcastle upon Tyne, UK
Publication Date: 1999 ISBN: 978 1 85898 684 5 Extent: 400 pp
The increasing demands which society places on the natural environment have led us to seek new ways of estimating the monetary costs of environmental degradation so that they can be compared with the benefits of development. This book provides a comprehensive and readable examination of the major techniques used in cost–benefit analysis and project appraisal to value environmental goods and services.

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The increasing demands which society places on the natural environment have led us to seek new ways of estimating the monetary costs of environmental degradation so that they can be compared with the benefits of development. This book provides a comprehensive and readable examination of the major techniques used in cost–benefit analysis and project appraisal to value environmental goods and services.

Written by two leading practitioners in environmental valuation, the book includes detailed examinations of the theory and practice of a wide range of valuation techniques including contingent valuation, hedonic pricing, choice experiments and travel cost methods. Complementing the theory are case studies on various policy areas such as water quality, recreation, landscape and biodiversity drawn from Europe, the United States and Asia. The book concludes with an informative and provocative review of important contemporary issues as well as suggesting areas of future research in the practice of environmental valuation.

Economic Valuation of the Environment will be essential reading for environmental and ecological economists and those practising resource management as well as for planners and policymakers.
Contents
Contents: Part I: Introduction 1. Introduction Part II: Revealed Preference Techniques 2. Market Price and Cost Measures of Value 3. The Travel-Cost Method 4. The Hedonic Price Method Part III: Expressed Preference Techniques 5. Contingent Valuation Methods 6. Discrete Choice Methods Part IV: Case Examples 7. Recreation 8. Landscape 9. Biodiversity 10. Water Quality 11. Amenity Values Part V: Policy Use and Decision Making 12. Benefit Transfer 13. Policy Implications and Conclusions Index
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