Environmental Valuation: New Perspectives

The measurement of environmental costs and benefits is an increasingly important aspect of the appraisal of policies and projects. Yet questions of how such appraisals can take account of environmental impacts, how non-marketed environmental effects can be valued in monetary terms, and how these values should be used in the development of policy remain controversial. This volume consists of papers developed from a conference sponsored by the Department of the Environment in the U.K. Six key topics are addressed: cost-benefit analysis; the contrasting approaches of economists and ecologists; the pros and cons of alternative valuation methods; contingent valuation; the transferability of environmental benefit estimates; and the establishment of research priorities. The book provides valuable new insights for advanced students and policy-makers in environmental economics and related disciplines.