VALUING MARGINAL CHANGES IN THE QUALITY OF AN ENVIRONMENTAL ASSET

LeRoy Hansen () and Daniel Hellerstein

No 20414, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: We present a model that extends the replacement cost theory to cases where benefits are restored for multiple years. Our theoretical framework derives a functional relationship between investments expenditures and environmental benefits. By extending the investment framework, we model reservoir benefits as a function of marginal changes in soil erosion.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 10
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20414

DOI: 10.22004/ag.econ.20414

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