Over-exploitation of environment and natural resources is becoming increasingly widespread in the modern world. To combat this, environmental economists have attempted to value such resources in order to ensure that they are given due recognition in any ex ante appraisal, or ex post evaluation of projects or policies; and also to ensure that optimal levels of consumption are determined for the resource. This authoritative title brings together seminal papers published in the last three decades which demonstrate the application of a number of techniques employed to value a range of environmental and natural resources. It will be of immense value to students, scholars and practitioners with an interest in environmental affairs and natural resources.

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.

Over the last decade, economists have increasingly recognized the role of meta-analysis and value transfer in synthesizing knowledge and efficiently exploiting the existing pool of knowledge. Comparative Environmental Economic Assessment explores the potential significance of using these techniques, particularly in environmental economics.Both meta-analysis and value transfer constitute major research tools which efficiently use knowledge previously acquired from other studies. The book focuses on the potential role and usefulness of these tools in environmental economic research, and goes on to address their validity, relevance and applicability. A future agenda for research is also illustrated. Combining methodological analysis with a variety of case studies - on aircraft noise, environmental policy in European space and urban energy policy, amongst others - the contributors present an illuminating examination of the utilization of meta-analysis and value transfer. The insightful techniques highlighted in this book will prove invaluable in the field of environmental economics. Policymakers in various areas including the environment and planning will also find this state-of-the-art study interesting and informative.

This is a comprehensive and up-to-date treatment of the Contingent Valuation Method (CVM), which asks what people would be willing to pay for an environmental good or attribute, or willing to accept for its loss. CVM is currently central to the assessment of environmental damage and has been the subject of considerable debate. Aimed at specialists, the book contains specially commissioned papers from both sides of that debate, as well as from commentators who see it as an interesting experimental tool regardless of the question of absolute validity of estimates. The book embraces the theoretical, methodological, empirical, and institutional aspects of the current debate, and looks at the method in US, European, and developing country contexts.

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.