Summary of valuation of environment, Public Economics

Summary of Valuation of Environment

Environment has a vast array of functions out of which some are assumed to have a zero economic value, as these are available free to us. Some of these functions are non-tangible in nature and not marketable. However, these functions have important role in our production and consumption activities. As the value of all the functions are not taken into account in decision-making environment is always undervalued.

In recent years researchers have attempted to expand the product boundary of environment by considering the value of more and more functions of the environment. The problem however lies at two stages: identification of environmental functions, and valuation of these functions. Existing literature on environmental valuation provides a wide range of valuation tools, which we have discussed in this unit. The measurement procedures are quite different and are suitable for different functions and circumstances. While applying these techniques the appropriateness of these tools should be carefully judged.

Posted Date: 12/18/2012 5:56:16 AM | Location : United States







Related Discussions:- Summary of valuation of environment, Assignment Help, Ask Question on Summary of valuation of environment, Get Answer, Expert's Help, Summary of valuation of environment Discussions

Write discussion on Summary of valuation of environment
Your posts are moderated
Related Questions
how do a traditional economy, a market, a centrally planned economy, and a mixed economy differ?

Q. What can we do then while aiming at the public policy? From the above, one task emerges immediately, that is of quantifying all economic and non economic effects of a certa

Question 1: Briefly (three or four paragraphs) give reasons for your answer. (a) In studying the public sector, economists should use either positive or normative economics

explanation and justify the condition of pareto optimality and verify the defination of contrect curve. statment; reallocation of the resources from 1 efficient point to another ef

Q. Show the Redistribution Policy? We know that despite policy interventions the disparity of income has been increasing in nearly all the countries. United States is highly un

Jenna's boss has decided to pay her a one-time bonus of $5,000. She decides to save the money until she retires, 4 years from now. She contemplates two savings options. Option A is

According to estimates by Goolsbee and Petrin (2004), the elasticity of demand for basic cable service is ?0.51, and the elasticity of demand for direct broadcast satellites is ?7.

why is public finance important?

Valuation Tools - Travel Cost Method Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Are there any current subsidy or welfare issues that are being discussed or addressed in parliament or municipalities?