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Environmental valuation: a brief overview of options

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  • Giles ATKINSON

    ()

  • Susana MOURATO

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Abstract

This paper provides a brief overview of the options available for environmental valuation and is organised as follows. After an introduction, section 2 discusses the concept of total economic value that provides a framework for describing, in economic terms, the ways in which environmental changes might affect peoples’ well-being. Sections 3 and 4 then review the main techniques that have been used to estimate total economic value (or its components). Some of these techniques estimate original values while others make use of (or ‘transfer’ to use the jargon) the findings of existing studies and apply to a new policy or project context. Finally, some concluding comments are offered.

Suggested Citation

  • Giles ATKINSON & Susana MOURATO, 2007. "Environmental valuation: a brief overview of options," Departmental Working Papers 2007-07, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  • Handle: RePEc:mil:wpdepa:2007-07
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    File URL: http://wp.demm.unimi.it/files/wp/2007/DEMM-2007_007wp.pdf
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    References listed on IDEAS

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    1. Richard Ready & Ståle Navrud & Brett Day & Richard Dubourg & Fernando Machado & Susana Mourato & Frank Spanninks & Maria Rodriquez, 2004. "Benefit Transfer in Europe: How Reliable Are Transfers between Countries?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 29(1), pages 67-82, September.
    2. Richard T. Carson & W. Michael Hanemann, & Raymond J. Kopp & Jon A. Krosnick & Robert C. Mitchell & Stanley Presser & Paul A. Rudd & V. Kerry Smith & Michael Conaway & Kerry Martin, 1997. "Temporal Reliability of Estimates from Contingent Valuation," Land Economics, University of Wisconsin Press, vol. 73(2), pages 151-163.
    3. Richard T. Carson & Nicholas E. Flores & Kerry M. Martin & Jennifer L. Wright, 1996. "Contingent Valuation and Revealed Preference Methodologies: Comparing the Estimates for Quasi-Public Goods," Land Economics, University of Wisconsin Press, vol. 72(1), pages 80-99.
    4. Richard Carson & Nicholas Flores & Norman Meade, 2001. "Contingent Valuation: Controversies and Evidence," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 19(2), pages 173-210, June.
    5. K. McConnell* & I. Strand & Sebastián Valdés, 1998. "Testing Temporal Reliability and Carry-over Effect: The Role of Correlated Responses in Test-retest Reliability Studies," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 12(3), pages 357-374, October.
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    8. Richard T. Carson, 2011. "Contingent Valuation," Books, Edward Elgar Publishing, number 2489.
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    10. Kahneman, Daniel & Knetsch, Jack L., 1992. "Valuing public goods: The purchase of moral satisfaction," Journal of Environmental Economics and Management, Elsevier, vol. 22(1), pages 57-70, January.
    11. Smith, V. Kerry, 1992. "Arbitrary values, good causes, and premature verdicts," Journal of Environmental Economics and Management, Elsevier, vol. 22(1), pages 71-89, January.
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    13. Alberini, Anna & Cropper, Maureen & Fu, Tsu-Tan & Krupnick, Alan & Liu, Jin-Tan & Shaw, Daigee & Harrington, Winston, 1997. "Valuing Health Effects of Air Pollution in Developing Countries: The Case of Taiwan," Journal of Environmental Economics and Management, Elsevier, vol. 34(2), pages 107-126, October.
    14. Alan fnKrupnick & Kenneth fnHarrison & Eric fnNickell & Michael fnToman, 1996. "The value of health benefits from ambient air quality improvements in Central and Eastern Europe: An exercise in benefits transfer," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 7(4), pages 307-332, June.
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    Cited by:

    1. Santamaría, Marta & Azqueta, Diego, 2015. "Promoting biofuels use in Spain: A cost-benefit analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 50(C), pages 1415-1424.

    More about this item

    Keywords

    Environmental valuation; Cost-benefits analysis; Benefit transfers;

    JEL classification:

    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis

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