ASSESSING ECONOMIC IMPACTS OF NATURAL RESOURCE MANAGEMENT USING ECONOMIC SURPLUS

Scott Swinton

No 11668, Staff Paper Series from Michigan State University, Department of Agricultural, Food, and Resource Economics

Abstract: This paper outlines the economic surplus approach to economic impact assessment and how it may be applied to natural resource management (NRM) projects. Three challenges confront NRM impact assessment: measurement, attribution, and valuation of non-market impacts. While various methods for non-market valuation have been developed, none has yet been integrated into a market-based economic surplus analysis due to problems of measurement and theoretical consistency. Future research should address those integration problems as well as the effects on valuation of inter-country income differentials.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Pages: 35
Date: 2004
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:midasp:11668

DOI: 10.22004/ag.econ.11668

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