Cents and nonsense: A critical appraisal of the monetary valuation of nature

Peter A. Victor

Ecosystem Services, 2020, vol. 42, issue C

Abstract: Current controversies in valuing the cost of environmental changes like climate change and biodiversity loss have exposed serious flaws in standard welfare economics. Many of these arise from the assumption that social value can be calculated using the revealed or stated preferences of self-regarding, narrowly rational individuals (Parks and Gowdy, 2013, p. 1).

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecoser:v:42:y:2020:i:c:s2212041620300188

DOI: 10.1016/j.ecoser.2020.101076

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