By Timothy C. Haab
ISBN-10: 1843765438
ISBN-13: 9781843765431
Non-market valuation has develop into a commonly authorised and greatly practiced technique of measuring the industrial values of our surroundings and common assets. during this publication, the authors supply a advisor to the statistical and econometric practices that economists hire in estimating non-market values. The authors increase the econometric versions that underlie the fundamental tools: contingent valuation, commute fee versions, random software types and hedonic versions. They examine the dimension of non-market values as a approach with steps: the estimation of parameters of call for and choice services and the calculation of advantages from the expected versions. all of the versions is thoroughly built from the choice functionality to the behavioral or reaction functionality that researchers discover. The types are then illustrated with datasets that signify the categories of information researchers commonly care for. the true international info and readability of writing during this booklet will entice environmental economists, scholars, researchers and practitioners in multilateral banks and govt organisations.
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Extra resources for Valuing environmental and natural resources : the econometrics of non-market valuation
Sample text
Part B illustrates the problems of prediction, comparing the results of actual with modelled GDP growth: note the effect of the 2008–09 recession. Sources: Input–output model: Meyer (2005), with permission from the copyright holder B. Meyer; World Bank, actual data: World Bank (2011). 5 Limits-to-growth model, business-as-usual scenario. Human welfare and environmental impact (Ecological Footprint) increase up to a turning point in the first half of the twenty-first century. By the year 2100 human welfare might reach a year-1900 level, with environmental impacts at the level of the 1970s.
Future sustainability has to be predicted. 6 presents trend extrapolations of the global footprint. According to World Wide Fund for Nature et al. (2010), the trend is based on international projections of population, land use, land productivity, energy use, diet and climate change. If business as usual continues, we will overshoot the available biocapacity by 100 per cent in the 2030s. In other words, we will need another planet to meet the needs of our current lifestyles. By 2050, the business-as-usual scenario shows the need for two more planets.
In this case, nature’s own values of survival and reproduction, rather than ‘human bias’ towards maximizing utility, should rule the use of nature (Brown and Ulgiati 1999). Energy economists and accountants contend that energy flows can assess both nature’s and the economy’s values since energy is a requirement for all processes and activities on earth (Chapter 2). Nature invests energy into anything, determining the value of any thing. Problems of converting matter and different energy sources into a common energy unit and the rejection of human preferences prevented wide acceptance and application of energy valuation and accounting.