By Patricia A. Champ, Kevin J. Boyle, Thomas C. Brown
This is a pragmatic publication with transparent descriptions of the main standard nonmarket tools. the 1st chapters of the e-book give you the context and theoretical origin of nonmarket valuation in addition to a dialogue of knowledge assortment tactics. the center chapters describe the main acknowledged- and revealed-preference valuation equipment. for every strategy, the stairs curious about implementation are laid out and thoroughly defined with aiding references from the broadcast literature. the ultimate chapters of the ebook learn the relevance of experimentation to monetary valuation, the move of current nonmarket values to new settings, and tests of the reliability and validity of nonmarket values.
The booklet is appropriate to contributors in lots of professions in any respect occupation degrees. pros in govt organizations, lawyers concerned with usual source harm exams, graduate scholars, and others will savor the thorough descriptions of the way to layout, enforce, and learn a nonmarket valuation learn.
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Extra info for A Primer on Nonmarket Valuation
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1 Theoretical Model of Nonmarket Goods The chapter begins with some illustrative examples. Air quality, water quality of lakes and streams, and the preservation of public lands are relevant examples of nonmarket goods. Each of these goods can change due to society’s choices, but individuals may not unilaterally choose their preferred level of air quality, water quality, or acreage of preserved public lands. In addition to being outside of the choice set of any individual, these examples have the common feature that everyone experiences the same level of the good.
K. ) (1993). Valuing natural assets: The economics of natural resource damage assessment. Washington, DC: RFF Press. Lichtenstein, S. & Slovic, P. ) (2006). The construction of preferences. New York: Cambridge University Press. McVittie, A. & Moran, D. (2010). Valuing the non-use beneﬁts of marine conservation zones: An application to the UK Marine Bill. Ecological Economics, 70, 413-424. Millennium Ecosystem Assessment. (2005). Ecosystems and human well-being: A framework for assessment. Washington, DC: Island Press.