Overview
Environmental valuation is a crucial aspect of policy analysis that helps assign economic value to natural resources and ecosystem services. By understanding the benefits provided by the environment, policymakers can make informed decisions that promote sustainability and effective resource manageme...
Key Terms
Example: Forests provide oxygen and help regulate climate.
Example: Evaluating the costs and benefits of a new park.
Example: Forests, rivers, and biodiversity are forms of natural capital.
Example: People may pay more for clean air and water.
Example: A higher discount rate reduces the present value of future benefits.
Example: Contingent valuation and hedonic pricing are common methods.
Related Topics
Sustainable Development
Explores the balance between economic growth and environmental protection.
intermediateEnvironmental Policy
Focuses on the laws and regulations that govern environmental protection.
intermediateClimate Change Economics
Examines the economic impacts of climate change and strategies for mitigation.
advancedKey Concepts
Ecosystem ServicesCost-Benefit AnalysisWillingness to PayNatural Capital