The use of economic valuation in environmental policy

methodology and applications
  • 2.14 MB
  • English

Routledge , New York
Water resources development -- Case studies, Valuation -- Case st
Statement[edited by] Phoebe Koundouri.
GenreCase studies.
SeriesRoutledge exploration in environmental economics -- 17
ContributionsKoundouri, Phoebe, 1974-
LC ClassificationsHD1698.A1 U74 2009
The Physical Object
Paginationp. cm.
ID Numbers
Open LibraryOL22684746M
ISBN 139780415453233, 9780203878378
LC Control Number2008046970

Part I begins with a review of the up-to-date use of non-market valuation economic methods in the design and implementation of EU water policies.

Part II of the book proceeds to discuss and analyze participatory and engineering tools that can facilitate the determination of efficient water resources policies and the consequent implementation of. The project draws on both academic and practitioner skills to generate knowledge in technological, operational management, policy, socio-economic, and environmental domains.

The book is divided in three parts and as the AquaStress project, is case study driven. Part I begins with a review of the up-to-date use of non-market valuation economic Cited by: 6.

The Use of Economic Valuation in Environmental Policy: Providing Research Support for the Implementation of EU Water Policy Under Aquastress (Routledge in Environmental Economics Book 17) - Kindle edition by Koundouri, Phoebe.

Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading The Use Manufacturer: Routledge. The Use of Economic Valuation in Environmental Policy: Providing Research Support for the Implementation of Eu Water Policy Under Aquastress Koundouri, Phoebe 15 December Online at MPRA Paper No.

posted 18 Oct UTC. This book aims to show that economics in general and non market valuation methods in particular, together with participatory and engineering tools, can facilitate the design and implementation of the different European policies in relation to mitigation of water stress.

The results presented in this book derive from AquaStress, an EU funded integrated project, delivering. Policymakers should use economic valuation as a means of evaluating the trade-offs involved in environmental policy choices; that is, an assessment of benefits and costs should be part of the information set available to policymakers in choosing among alternatives.

Economists. The continuing premise for the book is that estimates of the economic values of environmental and natural resource services are essential for effective policy-making. Like previous editions, the third edition, which includes two additional co-authors, presents a comprehensive treatment of the theory and.

Valuation aims to confer accurate economic values on non-market goods and services, but in order to place an economic value on a non-marketable, say an environmental. be used for economic valuation.

Description The use of economic valuation in environmental policy FB2

But money is preferred because it is a familiar, comparable and continuous unit of measurement. Financial gain is also measured in monetary terms. Thus using money allows comparison of: financial, environmental and social costs and benefits.

There are different ways to estimate the economic value depending on which. Contingent valuation, although controversial, is the obvious method for valuing biodiversity because it is, at least in principle, capable of valuing nonmarket-use values, passive-use values, and total economic value.

Nevertheless, biodiversity presents serious challenges for CV in that respondents often are asked (of necessity) to value.

Like any other policy, environmental policies should be carefully assessed both prior to their implementation and after they have been in place for some time. In-depth evaluations require that a value has been placed on the benefits that environmental policies provide, so that they can be compared to the costs of the policy using a common metric.

Resource and Environmental Economics. Cambridge: Cambridge University Press. [An outgrowth of two review articles from the Journal of Economic Literature in the s]. A M Freeman, R Haveman and A Kneese. The Economics of Environmental Policy.

New York: Wiley A Kneese. Economics and the Environment. Harmondsworth: Penguin. [An. The sum of “use values” and “non-use values” makes up the total economic value (‘TEV’) of an ecosystem, species or resource. The figure on the following page illustrates the different components of use and non-use values.

How can we measure the economic value of nature. Environmental economists have developed various. The taxonomy of sources of economic value (see Table ) provides a means to understand personal reasons for valuing an t use values include consumptive activities that lead to deterioration of environmental quality and non-consumptive activities such as viewing wildlife and natural aesthetics.

The idea of putting a dollar value on protecting the environment has been controversial, but often because the economic approach to valuation has not been well-understood. This chapter provides a nontechnical overview of and rationale for the economic approach to valuation, starting from a broad conceptualization of values versus valuation.

Chapter 1. History and Legislative Mandates for Environmental Valuation 3 Chapter 2. Concepts in Environmental Valuation 9 Chapter 3.

Economic Tools for Use in Coastal Management Decisionmaking 23 Chapter 4. Measuring the Value of Goods and Services Traded in Markets 33 Chapter 5. Measuring the Value of Non-Market Goods and Services 41 Chapter 6. Downloadable. The increasing demands which society places on the natural environment have led us to seek new ways of estimating the monetary costs of environmental degradation so that they can be compared with the benefits of development.

This book provides a comprehensive and readable examination of the major techniques used in cost–benefit analysis and project appraisal to value. The value that we are trying to capture for the purposes of a policy appraisal is the total value of a marginal change in environmental effects or the underlying ecosystem services.

The Total Economic Value (TEV) framework is of use as it measures the total gain or loss in. economic value (TEV) of an environmental resource includes use benefits as well as non-use benefits.

Use benefits include both direct and indirect uses. Direct use values accrue from the physical use of the good, such as fishing in a river, visiting a national park or production of forestry products.

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Indirect use values include the service provided. Component 2: Assessment of the socio-economic value of goods and services provided by Mediterranean forest ecosystems Project: “Optimized production of goods and services by Mediterranean forest ecosystems in the context of global changes ” 2 international); (iii) data availability (e.g.

restricted data access data on house values); (iv) available time and financial –. A full taxonomy of such economic values can be found in any economic valuation handbook (e.g. Dixon and Pagiola, ), including values categories such as option value, bequest value and existence value.

See also: Contingent valuation. Travel-cost method. Reference. Dixon, J., Pagiola, S. Economic analysis and environmental assessment. full value of goods such a s health, family and community stability, educational success, and environmental assets cannot simply be inferred from market prices.

But we should not neglect such important social impacts in policy making.

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We therefore look to economic techniques to help us elicit values for these goods. DTLR () Economic Valuation with Stated Preference Techniques HMT () The Green Book Accounting for Environmental Impacts – Supplementary Green Book guidance Valuation of energy use and greenhouse gas emissions Valuing impacts in air quality Assessing environmental impact guidance Noise Further information The economic conception of value is thus anthropocentric and for the most part instrumental in nature, in the sense that these values provide information that can guide policy making.

This valuation approach, as discussed in chapter 4, should be used to complement, but not substitute other legitimate. Problems can arise (loss of environmental capital; increased social costs) if use values are not accurately priced by the market. There are many controversial issues in quantifying non-use values because conventional economics measures only transactional value and challenges the premise of contingent valuation methods.

Economic values of natural resources & environment Direct use value Indirect use value Non-use value Option Total Economic ValueTotal Economic Value Ecology-economics Economic valuation Source: Adaped from R.K. Turner et al.:Ecological Economics. Economic valuation of the environment internalises environmental effects in the marketplace through the calculation of quantitative, monetary values.

It may be applied by different stakeholders, including companies, governmental and non-governmental organisations. By calculating the value of the environment through the use of the tools described above, we can argue our case against those who would dismiss the environment as of little economic value.

For, as the many studies that have been done show, the numbers that come out on the value of environmental services can be very large. A key area of public policy in the last twenty years is the question of how, and how much, to protect vthe environment.

At the heart of this has been the heated debate over the nature of the relationship between economic growth and environmental sustainability. Is environemental sustainability economic growth. Ecosystem valuation is an economic process which assigns a value (either monetary, biophysical, or other) to an ecosystem and/or its ecosystem quantifying, for example, the human welfare benefits of a forest to reduce flooding and erosion while sequestering carbon, providing habitat for endangered species, and absorbing harmful chemicals, such monetization ideally provides a tool.

VALUATION OF ENVIRONMENTAL GOODS AND SERVICES: AN INSTITUTIONALISTIC ASSESSMENT. By Professor S. K. Mishra. I. Introduction: The objective of the present discourse is to discuss various methods that are suggested or applied to find a pecuniary measure of the worth of environmental goods and services and evaluate them from the viewpoint of institutionalism.

Using economic valuation techniques to inform water resources management: A survey and critical appraisal of available techniques and an application” Bishop et al.” Assessing the Economic Value of Ecosystem Conservation” Dixon et al.” Environmental Valuation: Challenges and Practices” Valuation.

Assessing the economic value of the environment is a major topic within the field. Use and indirect use are tangible benefits accruing from natural resources or ecosystem services (see the nature section of ecological economics).

Non-use values include existence, option, and bequest values.