Valuing Ecosystem Services
AbstractApril 1, 1998 We develop the economist's concept of value as opportunity cost and discuss the ways in which decisions imply values through revealed preference. We distinguish between the ideas of incremental and total value and argue that only the former is of importance in practical decision-making. The relationship between price and value is articulated and related to the distinction between public and private goods. Finally, we enumerate the various ways economists use to determine the value of ecosystem services–these include use of prices, methods of revealed preference, voting schemes and contingent valuation.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Stanford University, Department of Economics in its series Working Papers with number 98006.
Date of creation: 01 Apr 1998
Date of revision:
Contact details of provider:
Postal: Ralph Landau Economics Building, Stanford, CA 94305-6072
Web page: http://www-econ.stanford.edu/econ/workp/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- B. Douglas Bernheim, 1987.
"Ricardian Equivalence: An Evaluation of Theory and Evidence,"
in: NBER Macroeconomics Annual 1987, Volume 2, pages 263-316
National Bureau of Economic Research, Inc.
- B. Douglas Bernheim, 1988. "Ricardian Equivalence: An Evaluation of Theory and Evidence," NBER Working Papers 2330, National Bureau of Economic Research, Inc.
- Tjalling C. Koopmans, 1973. "Some Observations on 'Optimal' Economic Growth and Exhaustible Resources," Cowles Foundation Discussion Papers 356, Cowles Foundation for Research in Economics, Yale University.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Krichel).
If references are entirely missing, you can add them using this form.