BooknewsPresents a collection of Duke University environmental economics professor V. Kerry Smith's papers prepared over the last 25 years, dealing with the theory and practice of non- market valuation for environmental resources. The papers explore the conceptual basis, the implementation process, and the empirical performance of all available methods of measuring economic values for the services of nature and how these values are constructed from people's choices. Issues discussed include travel cost, recreation demand, averting behavior, household production, hedonic property value, hedonic wage, and contingent valuation methods. These essays describe what has been learned from past benefit analysis, using meta-analysis as well as the issues at the forefront of current research. Annotation c. by Book News, Inc., Portland, Or.
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