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Non-market valuation has become a broadly accepted and widely practiced means of measuring the economic values of the environment and natural resources. In this book, the authors provide a guide to the statistical and econometric practices that economists employ in estimating non-market values. The authors develop the econometric models that underlie the basic methods: contingent valuation, travel cost models, random utility models and hedonic models. They analyze the measurement of non-market values as a procedure with two steps: the estimation of parameters of demand and preference functions and the calculation of benefits from the estimated models. Each of the models is carefully developed from the preference function to the behavioral or response function that researchers observe. The models are then illustrated with datasets that characterize the kinds of data researchers typically deal with. The real world data and clarity of writing in this book will appeal to environmental economists, students, researchers and practitioners in multilateral banks and government agencies.
Environmental and Natural Resource Economics is the best-selling text for natural resource economics and environmental economics courses, offering a policy-oriented approach and introducing economic theory and empirical work from the field. Students will leave the course with a global perspective of both environmental and natural resource economics and how they interact. Complemented by a number of case studies showing how underlying economic principles provided the foundation for specific environmental and resource policies, this key text highlights what can be learned from the actual experience. This new, 11th edition includes updated data, a number of new studies and brings a more international focus to the subject. Key features include: Extensive coverage of the major issues including climate change, air and water pollution, sustainable development, and environmental justice. Dedicated chapters on a full range of resources including water, land, forests, fisheries, and recyclables. Introductions to the theory and method of environmental economics including externalities, benefit-cost analysis, valuation methods, and ecosystem goods and services. Boxed ‘Examples’ and ‘Debates’ throughout the text which highlight global examples and major talking points. The text is fully supported with end-of-chapter summaries, discussion questions, and self-test exercises in the book and multiple-choice questions, simulations, references, slides, and an instructor’s manual on the Companion Website.
This book provides a systematic review of those economic approaches for valuing the environment and natural resources that use information on what people do, not what they say. The authors have worked on models of revealed preferences for valuing environmental and natural resources for several decades. The book provides a candid review of the major conceptual challenges and an exploration of neglected issues in the literature.
As the world faces unprecedented challenges such as climate change and biodiversity loss, the resources needed far outstrip the capabilities of nonprofits and even governments. Yet there are seeds of hope—and much of that hope comes from the efforts of the private sector. Impact investing is rapidly becoming an essential tool, alongside philanthropy and government funding, in tackling these major problems. Valuing Nature presents a new set of nature-based investment areas to help conservationists and investors work together. NatureVest founder William Ginn outlines the emerging private sector investing opportunities in natural assets such as green infrastructure, forests, soils, and fisheries. The first part of Valuing Nature examines the scope of nature-based impact investing while also presenting a practical overview of its limitations and the challenges facing the private sector. The second part of the book offers tools for investors and organizations to consider as they develop their own projects and tips on how nonprofits can successfully navigate this new space. Case studies from around the world demonstrate how we can use private capital to achieve more sustainable uses of our natural resources without the unintended consequences plaguing so many of our current efforts. Valuing Nature provides a roadmap for conservation professionals, nonprofit managers, and impact investors seeking to use market-based strategies to improve the management of natural systems.
Harris and Roach present a compact and accessible presentation of the core environmental and resource topics and more, with analytical rigor as well as engaging examples and policy discussions. They take a broad approach to theoretical analysis, using both standard economic and ecological analyses, and developing these both from theoretical and practical points of view. It assumes a background in basic economics, but offers brief review sections on important micro and macroeconomic concepts, as well as appendices with more advanced and technical material. Extensive instructor and student support materials, including PowerPoint slides, data updates, and student exercises are provided.
When a group of liberal arts students embark on a university assignment about the natural environment, no one could have quite prepared them for the bewildering array of questions and provocations to confront them in their task. What starts out as an earnest attempt to understand nature in the modern world, turns into a philosophical and practical tangle that only a good transdisciplinary education can provide. Can anyone save the day and actually start to value ‘nature’? And if they can’t, then what’s stopping them? The idea of ‘valuing nature’ harmonises diverse areas of natural resource management and is an important dimension of scientific and practical work concerned with managing ecosystems and habitats for sustainability. This graphic book takes the reader on an exploration of the issues that arise from this growing interest and concern in the valuation of nature. Set around the premise of a ‘motley’ group of undergraduates endeavouring to complete a university assignment on ‘nature in the modern world’, the book explores: the many and diverse meanings people assign to nature the different ways the relationship between people and nature might be characterised the many values systems people hold for the natural world the options and approaches society can deploy to manage it the extent to which we need entirely new economic systems to protect and sustain nature. This highly interdisciplinary book invites consideration of a range of philosophical and applied debates and questions. Written in an accessible style, it is an ideal undergraduate text in the fields of ecology, human and physical geography, conservation science, environment, social science and spatial planning, as well as a general primer for graduate natural and social scientists embarking on interdisciplinary research in the natural resource management arena.
Choosing the optimal management option requires environmental risk managers and decision makers to evaluate diverse, and not always congruent, needs and interests of multiple stakeholders. Understanding the trade-offs of different options as well as their legal, economic, scientific, and technological implications is critical to performing accurate
The questionnaire-based Contingent Valuation Method (CVM) asks people what would they be willing to pay for an environmental good or attribute, or willing to accept for its loss. These papers consider the real value of such surveys.
Most of the chapters in this volume are authored by staff or associates of the Centre for Social and Economic Research on the Global Environment (CSERGE). CSERGE is a research centre sponsored by the UK Economic and Social Research Council (ESRC), which specialises in interdisciplinary work focussed on environmental management issues. Weare grateful for the long term support that we have received from the ESRC. We would also like to acknowledge the efforts of Ann Dixon and SHin Pearce in the preparation of this volume. vii INTRODUCTION CHAPTER 1. ECOLOGICAL ECONOMICS AND COASTAL ZONE ECOSYSTEMS' VALUES: AN OVERVIEW. Turner, R. K. , Bateman, I. J. and Adger, W. N. 1. 1 Coastal zone pressure and sustainable management challenges Given the continued intensification of the process of globalisation - involving population growth, population density changes via urbanisation, industrial development, increased trade and capital flows, liberalisation of transnational corporation activity and lifestyle and attitudinal changes - coastal zones and their hydrologically linked catchment areas have come under heavy environmental pressure. The scale and extent of socio-economic activities have profound implications for the now coevolving natural and human systems and their complex interrelationships (Turner, Perrings and Folke, 1997). The consequences of this process of change manifest themselves across a range of spatial and temporal scales. Indeed the juxtaposition of different spatial, functional and temporal scales that is inherent in the catchment-coastal ecosystems-seas/oceans continuum poses particularly difficult challenges for both science and resource management/governance.
This book is about understanding the value of environmental services in South Asia. It provides an overview of different environmental problems in South Asia and examines how economic valuation techniques can be used to assess these problems. It brings together multiple case studies on valuation undertaken by economists and environmental scientists from Bangladesh, India, Pakistan, Nepal and Sri Lanka under the aegis of the South Asian Network for Development and Environmental Economics (SANDEE). The book addresses the challenges of valuing environmental changes that are unique to developing countries. Each chapter starts with a description of an environmental problem and the valuation strategy used, followed by a discussion of estimation methods and results. It is designed to serve as a reference book for students, teachers, researchers, non-government organizations and practitioners of environmental valuation. Those interested in development and environmental economics, and natural resource management policies, will also find it useful.