Please note: In order to keep Hive up to date and provide users with the best features, we are no longer able to fully support Internet Explorer. The site is still available to you, however some sections of the site may appear broken. We would encourage you to move to a more modern browser like Firefox, Edge or Chrome in order to experience the site fully.

Supporting your high street Find out how »
Valuing the Environment: Methodological and Measurement Issues, Hardback Book

Valuing the Environment: Methodological and Measurement Issues Hardback

Edited by Rudiger Pethig

Part of the Environment, Science and Society series

Hardback

Item not Available

Description

During the last decades, environmental economics as a science has been very successful in improving our understanding of environment-economy interdepen­ dence.

Using conventional economic methodology, environmental aspects have been explicitly incorporated into economic models making use of the concept of externality.

This concept was already familiar to economists long before evidence of severe environmental deterioration found its way into the headlines and peo­ ple's awareness.

But before that time, external effects were not considered as being empirically very relevant, they seemed to be -like the example of the bees and the fruit trees - somewhat bucolic in nature.

All that changed dramatically when it was no longer possible (or easy) to ignore the large-scale environmental disruption with its negative feedback on consumers and producers caused by growing pollution and excessive use of environmental resources.

In diagnosing the discrepancy between private and social cost as the cause of the problem, the externality paradigm proved very useful.

The correct diagnosis implies the straightforward cure to internalise all external cost, namely the damage cost of pollution.

But it is one thing to identify the qualitative nature of the problem at an abstract conceptual level and quite another thing to place specific money values on pollution damage and society's valuation of the environment, respectively, in the context of specific pollution (control) problems.

Very often it is controversial not only how inefficient the no-policy situation is but also what exactly the net benefit of any public action of reducing pollution is.

Information

Save 14%

£199.99

£171.75

Item not Available
Item not Available
Sign in to add to wishlist
 
Free Home Delivery

on all orders

 
Pick up orders

from local bookshops

Information