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)
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)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20414
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