×

Uh-oh, it looks like your Internet Explorer is out of date.

For a better shopping experience, please upgrade now.

Valuing Natural Assets: The Economics of Natural Resource Damage Assessment
     

Valuing Natural Assets: The Economics of Natural Resource Damage Assessment

by Raymond J. Kopp
 

See All Formats & Editions

Assessing natural resource damages often requires the use of nonmarket valuation techniques that were developed for use in benefit-cost analyses. Natural resource damage assessment dramatically changes the context for applying them. Two aspects of this context are especially important. First, damages are to be measured by the monetary value of the losses people

Overview

Assessing natural resource damages often requires the use of nonmarket valuation techniques that were developed for use in benefit-cost analyses. Natural resource damage assessment dramatically changes the context for applying them. Two aspects of this context are especially important. First, damages are to be measured by the monetary value of the losses people experience, including their use and nonuse values, because of injuries to natural resources---a process requiring careful delineation of how the injuries connect to the resource's services. Second, a single identified entry---not generalized, anonymous taxpayers---must pay damages based on what is measured, and evaluations of the measurement techniques take place not in agency meeting rooms but in courtrooms. Contributors to Valuing Natural Assets examine the ways in which requirements for damage assessment change how the measures are used, presented, received, and defended. Drawing upon their personal involvement with the process and the research issues it has raised---both in providing analysis for defendants or plaintiffs in damage assessment cases and in writing for academic journals---their chapters reflect individual research programs that temper the rigorous demands of scholarship with the equally demanding standards of litigation.

Editorial Reviews

Booknews
In this collection of papers, originally prepared for an RFF-sponsored conference in June 1988 and subsequently revised, contributors introduce the legal and economic issues surrounding the public policy problem of natural resource damage assessment. The papers identify the origins of the concept of existence value, discuss the way in which it came to play a role in natural resource damage assessment, explain the history behind the contingent valuation method (which is being used increasingly to measure lost existence values), identify the pros and cons of this technique, review some of the law and federal rulemaking that have evolved from natural resource damage cases, and suggest a research agenda for the future. Annotation c. Book News, Inc., Portland, OR (booknews.com)
From the Publisher
'The issues raised are pertinent to economic consequence assessments, and perhaps to the economic model developed at National Radiological Protection Board. .. . The introductory chapter, written by the editors, is particularly valuable in this respect.'
Radiological Protection Bulletin

'This important book by senior U.S. environmental and natural resource economists represents the state of the art in defining and measuring the economic value of natural resources. . . . The authors provide an excellent overview of the economic theory and practice of resource valuation. . . [that will] meet the rigorous standards of scholarship, [and] serve the needs of legislators, policy makers and administrators. . . .'
Ecological Economics

Product Details

ISBN-13:
9781135889494
Publisher:
Taylor & Francis
Publication date:
10/08/2013
Sold by:
Barnes & Noble
Format:
NOOK Book
Pages:
382
File size:
5 MB

Customer Reviews

Average Review:

Post to your social network

     

Most Helpful Customer Reviews

See all customer reviews