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Microdata and the Valuation of Natural Capital

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  • Jonathan M. Colmer
  • John L. Voorheis

Abstract

The practical valuation of natural capital remains a challenge, despite a strong theoretical foundation and advances in our understanding of coupled natural and human systems. This paper discusses the extent to which advances in the availability of individual-level microdata might relax measurement constraints, and in turn open the door to new methodological and accounting frameworks that incorporate spatial and individual heterogeneity. We discuss conceptual issues, provide an overview of a new prototype microdata infrastructure developed by the US Census Bureau—the Census Environmental Impacts Frame—and present descriptive evidence on the individual-level distribution of urban tree canopy cover in the United States. Our analysis highlights the empirical relevance of aggregation bias and potential for within-location heterogeneity in demand for natural capital.

Suggested Citation

  • Jonathan M. Colmer & John L. Voorheis, 2023. "Microdata and the Valuation of Natural Capital," NBER Working Papers 31189, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:31189
    Note: EEE
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    Cited by:

    1. Colmer, Jonathan & Krause, Eleanor & Lyubich, Eva & Voorheis, John, 2024. "Transitional costs and the decline in coal: worker-level evidence," LSE Research Online Documents on Economics 126795, London School of Economics and Political Science, LSE Library.

    More about this item

    JEL classification:

    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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