Hanley, N. (2002) The economic value of environmental damage. In: Bowman, M. and Boyle, A. (eds.) Environmental Damage in International and Comparative Law. Oxford University Press: Oxford, UK. ISBN 9780191698262 (doi: 10.1093/acprof:oso/9780199255733.003.0003)
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Abstract
This chapter provides an overview of the methods adopted by economists for the quantification of environmental harm. It explores the fundamental concept of utility, as reflected in both use and non-use values and measured by the devices of maximum Willingness to Pay (WTP) and minimum Willingness to Accept Compensation (WTAC). It shows that the choice between the two methods is dependent upon the allocation of property rights in particular contexts.
| Item Type: | Book Sections |
|---|---|
| Status: | Published |
| Glasgow Author(s) Enlighten ID: | Hanley, Professor Nicholas |
| Authors: | Hanley, N. |
| College/School: | College of Medical Veterinary and Life Sciences > School of Biodiversity, One Health & Veterinary Medicine |
| Publisher: | Oxford University Press |
| ISBN: | 9780191698262 |
| Related URLs: |
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