This authoritative two volume collection illustrates the most
important methods for valuing non-priced environmental goods. It
will be essential reading for new researchers as well as providing
an excellent source of well-known material for scholars already
working in this area.The first volume provides a variety of papers
on different applications of opportunity cost, travel-cost, hedonic
price and contingent valuation methods which emphasise both theory
and practice. Classic articles on discrete choice, non-use values
and the WTA v. WTP controversy are included. It also includes
contributions from psychologists which identify anomalies in
economic theory as well as developing more robust evaluation
methods. The second volume addresses the problem of evaluation when
there are multi-attribute goods and programmes and considers how
the validity of results can be assessed. Allocative mechanisms for
environmental resources are also illustrated with analysis of some
of the property rights issues surrounding damage to resources. A
series of case studies evaluate major issues: biodiversity;
wetlands; landscape; noise; safety and air pollution. The volume
concludes with the transfer of benefit estimates between sites, the
usefulness of meta-analysis and two thought provoking articles
concerning the meaning of valuation.
General
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