Edward Elgar Publishing Estimating Economic Values for Nature: Methods for Non-Market Valuation (New Horizons in Environmental Economics series)

Estimating Economic Values for Nature presents, in one volume, a collection of V. Kerry Smith's papers prepared over 25 years, dealing with the theory and practice of non-market valuation for environmental resources. Taken together, the papers explore the conceptual basis, the implementation process and empirical performance of all available methods of measuring economic values for the services of nature and how these values are constructed from people's choices. The issues discussed in this volume include travel cost, recreation demand, averting behaviour, household production, hedonic property value, hedonic wage and contingent valuation methods. These essays describe what has been learned from past benefit analysis, using meta-analysis, as well as the issues at the frontiers of current research in the area. This important volume will be welcomed by environmental and public economists, as well as practitioners of cost-benefit analysis, as an authoritative and comprehensive discussion of non-market valuation. Review 'The book, while demonstrating the evolution in theoretical thinking produced by a major contributor to the literature, also establishes the state-of-the-art for practitioners and scholars of non-market valuation generally. In this setting, this compilation is highly recommended as a valuable new reference book.' About the Author V. Kerry Smith, Emeritus Regents’ Professor and Emeritus University Professor, Arizona State University, US