An inclusive comparative review of valuation methods for assessing environmental goods and externalities

Tzipi Eshet, Ofira Ayalon and Mordechai Shechter ()

International Journal of Business Environment, 2006, vol. 1, issue 2, 190-210

Abstract: Economists have developed various concepts aimed at proposing monetary values for environmental non-marketed goods. This review analyses the different approaches and reveals most of the methods rely on economic welfare theory, based on the values that individuals ascribe, directly or indirectly, to their preferences regarding an environmental good with no observable price in the market. However, in practice, approximate methods, based on expert judgement and assessment, dominate mostly because they are easier to attain.

Keywords: environmental goods; valuation methods; externalities; policy; monetary values; economic welfare theory; expert judgement; environmental impact. (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijbenv:v:1:y:2006:i:2:p:190-210

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