Book•
Measuring the Demand for Environmental Quality
01 Feb 1991-
TL;DR: In this paper, J.B. Braden, C.D. Kolstad and D.M. Miltz proposed a method for valuing classes of environmental effects.
Abstract: Part I: Theory and Methods. Introduction (J.B. Braden, C.D. Kolstad and D. Miltz). Environmental Demand Theory (C.D. Kolstad and J.B. Braden). Household Production Functions and Environmental Benefit Estimation (V.K. Smith). Hedonic Methods (R.B. Palmquist). Constructed Markets (R.T. Carson). Part II: Methods for Valuing Classes of Environmental Effects. Environmental Health Effects (M.L. Cropper and A.M. Freeman III). Aesthetics (P.E. Graves). Recreation (N.E. Bockstael, K.E. McConnell and I. Strand). Materials Damages (R.M. Adams and T.D. Crocker). Total and Nonuse Values (A. Randall). Summary and Conclusions (J.B. Braden and C.D. Kolstad). Bibliography. Author Index. Subject Index.
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24 Nov 2003
TL;DR: The Millennium Ecosystem Assessment (MEA) as discussed by the authors is a conceptual framework for analysis and decision-making of ecosystems and human well-being that was developed through interactions among the experts involved in the MA as well as stakeholders who will use its findings.
Abstract: This first report of the Millennium Ecosystem Assessment describes the conceptual framework that is being used in the MA. It is not a formal assessment of the literature, but rather a scientifically informed presentation of the choices made by the assessment team in structuring the analysis and framing the issues. The conceptual framework elaborated in this report describes the approach and assumptions that will underlie the analysis conducted in the Millennium Ecosystem Assessment. The framework was developed through interactions among the experts involved in the MA as well as stakeholders who will use its findings. It represents one means of examining the linkages between ecosystems and human well-being that is both scientifically credible and relevant to decision-makers. This framework for analysis and decision-making should be of use to a wide array of individuals and institutions in government, the private sector, and civil society that seek to incorporate considerations of ecosystem services in their assessments, plans, and actions.
2,427 citations
Posted Content•
1,448 citations
TL;DR: In this paper, the authors outline the choice experiment approach to environmental valuation, which has its roots in Lancaster's characteristics theory of value, in random utility theory and in experimental design, and illustrate the use of choice experiments with reference to a recent UK study on public preferences for alternative forest landscapes.
Abstract: This paper we outline the “choice experiment” approach to environmental valuation. This approach has its roots in Lancaster's characteristics theory of value, in random utility theory and in experimental design. We show how marginal values for the attributes of environmental assets, such as forests and rivers, can be estimated from pair-wise choices, as well as the value of the environmental asset as a whole. These choice pairs are designed so as to allow efficient statistical estimation of the underlying utility function, and to minimise required sample size. Choice experiments have important advantages over other environmental valuation methods, such as contingent valuation and travel cost-type models, although many design issues remain unresolved. Applications to environmental issues have so far been relatively limited. We illustrate the use of choice experiments with reference to a recent UK study on public preferences for alternative forest landscapes. This study allows us to perform a convergent validity test on the choice experiment estimates of willingness to pay.
1,140 citations
TL;DR: In this article, the authors estimate random-parameter logit models of anglers' choice of fishing site, which generalize logit by allowing coefficients to vary randomly over anglers rather than being fixed.
Abstract: We estimate random-parameter logit models of anglers ' choice of fishing site. The models generalize logit by allowing coefficients to vary randomly over anglers rather than being fixed. The models do not exhIbit the restrictive " independence from irrelevant alternatives property of logit and can represent any substitution pattern. Estimation explicitly accounts for the fact that the variation in coefficients over anglers induces correlation in unobserved utility over trips by the same angler. Willingness-to-pay for improved fish stock and the value to anglers of specific sites are calculated from the models and compared with the estimates obtained from a standard logit model.
1,122 citations
TL;DR: A selection of the potential impacts of climate change on agriculture,forestry, unmanaged ecosystems, sea level rise, human mortality, energyconsumption, and water resources are estimated and valued in monetary terms.
Abstract: A selection of the potential impacts of climate change – on agriculture,forestry, unmanaged ecosystems, sea level rise, human mortality, energyconsumption, and water resources – are estimated and valued in monetaryterms. Estimates are derived from globally comprehensive, internallyconsistent studies using GCM based scenarios. An underestimate of theuncertainty is given. New impact studies can be included following themeta-analytical methods described here. A 1 °C increase in the globalmean surface air temperature would have, on balance, a positive effect onthe OECD, China, and the Middle East, and a negative effect on othercountries. Confidence intervals of regionally aggregated impacts, however,include both positive and negative impacts for all regions. Global estimatesdepend on the aggregation rule. Using a simple sum, world impact of a1 °C warming would be a positive 2% of GDP, with a standarddeviation of 1%. Using globally averaged values, world impact would be anegative 3% (standard deviation: 1%). Using equity weighting, worldimpact would amount to 0% (standard deviation: 1%).
824 citations