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Cents and nonsense: A critical appraisal of the monetary valuation of nature

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  • Victor, Peter A.

Abstract

Current controversies in valuing the cost of environmental changes like climate change and biodiversity loss have exposed serious flaws in standard welfare economics. Many of these arise from the assumption that social value can be calculated using the revealed or stated preferences of self-regarding, narrowly rational individuals (Parks and Gowdy, 2013, p. 1).

Suggested Citation

  • Victor, Peter A., 2020. "Cents and nonsense: A critical appraisal of the monetary valuation of nature," Ecosystem Services, Elsevier, vol. 42(C).
    • Handle: RePEc:eee:ecoser:v:42:y:2020:i:c:s2212041620300188
    DOI: 10.1016/j.ecoser.2020.101076
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