Valuing Environmental and Natural Resources: The Econometrics of Non-market Valuation (New Horizons in Environmental Economics series) - Hardcover

Haab, Timothy C.; McConnell, Kenneth E.

Hardcover

ISBN 10: 1840647043 ISBN 13: 9781840647044

Publisher: Edward Elgar Publishing Ltd, 2002

Synopsis

Non-market valuation has become a broadly accepted and widely practiced means of measuring the economic values of the environment and natural resources. In this book, the authors provide a guide to the statistical and econometric practices that economists employ in estimating non-market values.

The authors develop the econometric models that underlie the basic methods: contingent valuation, travel cost models, random utility models and hedonic models. They analyze the measurement of non-market values as a procedure with two steps: the estimation of parameters of demand and preference functions and the calculation of benefits from the estimated models. Each of the models is carefully developed from the preference function to the behavioral or response function that researchers observe. The models are then illustrated with datasets that characterize the kinds of data researchers typically deal with.

The real world data and clarity of writing in this book will appeal to environmental economists, students, researchers and practitioners in multilateral banks and government agencies.

About this title

About the Author

Timothy C. Haab, Assistant Professor, Department of Agricultural, Environmental and Development Economics, Ohio State University, US and Kenneth E. McConnell, Professor, Department of Agricultural and Resource Economics, University of Maryland, College Park, US

Edition details

• Publisher: Edward Elgar Publishing Ltd
• Publication date: 2002
• Language: English
• ISBN 10: 1840647043
• ISBN 13: 9781840647044
• Binding: Hardcover
• Number of pages: 352