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Valuation Tool - Production Function Approach
The production function approach is applied to estimate the indirect use value of the environment. It consists of two steps: first, establish a relationship between the environmental input/service and the output, and second, estimate the monetary value of the environmental function.
For example, soil erosion upstream causes siltation in canals, which reduces the flow of irrigation water. As a result of decrease in water supply, there is a decline in crop production downstream. In order to measure the cost of soil erosion we estimate the crop loss due to siltation and find out its value m money terms, which can be considered as an estimate of the cost of soil erosion.
Q. Describe ex-ante heterogeneity? First conflict reflects heterogeneity among agents due to different policy preferences. Individuals or agents are heterogeneous in a number o
Q. Define Heterogeneity? We know that breaking of the assumptions of homogeneity of agents, in welfare economics, makes it difficult to define social welfare function. Breakin
QUESTION a) How would the strategy of a firm faced with repeated games differ from that faced with sequential games? b) What do you understand by an optimal level of poll
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
Public Economics can broadly be understood as that Economics which deals withpublic intervention in the economy. Its domain is supposed to encompass rationalefor public interventio
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What are the objectives of pubic finance
summarize the basic tenets of mark davis arguments
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