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Chapter 4: Methods of valuation of environmental costs and benefits
Authors: Protopapas, Angelos
Description:
Abstract:
Chapter 4 is devoted to valuation methods for environmental characteristics. The methods discussed are cost-benefit and cost-effectiveness analysis, the hedonic value approach, contingent valuation, travel cost analysis, existence value, bequest value and option value. The chapter also examines the impact of risk and uncertainty on the valuation of environmental attributes. In the late 1960s and early 1970s, various economic theories referring to the wonders of nature were devised in the United States, primarily in response to development proposals that threatened to affect natural formations of unique value. The chapter gives a brief description of some of the wonders of nature (the list of which can by no means be considered exhaustive) and then uses a relatively simple comparative static theory to emphasize that the wisdom of economic science is particularly favourable to their preservation.
Linguistic Editors: Sakellariou, Anastasia
Graphic Editors: Zinas, Nikos
Type: Chapter
Creation Date: 06-12-2024
Item Details:
License: Attribution - NonCommercial - ShareAlike 4.0 International (CC BY-NC-SA 4.0)
Handle http://hdl.handle.net/11419/14258
Bibliographic Reference: Protopapas, A. (2024). Chapter 4: Methods of valuation of environmental costs and benefits [Chapter]. In Protopapas, A. 2024. Sustainable environmental management [Undergraduate textbook]. Kallipos, Open Academic Editions. https://hdl.handle.net/11419/14258
Language: Greek
Is Part of: Sustainable environmental management
Publication Origin: Kallipos, Open Academic Editions