By Robert J. Johnston, John Rolfe, Randall S. Rosenberger, Roy Brouwer

This booklet presents a accomplished evaluation of environmental profit move tools, concerns and demanding situations, masking issues correct to researchers and practitioners. Early chapters offer available introductory fabrics appropriate for non-economists. those chapters additionally aspect how profit move is used in the coverage procedure. Later chapters disguise extra complex themes suited for valuation researchers, graduate scholars and people with comparable wisdom of monetary and statistical concept and techniques. This e-book offers the main entire insurance of environmental profit move tools on hand in one location.

The booklet ambitions a large viewers, together with undergraduate and graduate scholars, practitioners in economics and different disciplines trying to find a one-stop instruction manual masking profit move subject matters and those that desire to practice or assessment profit move equipment. it's designed for these either with and with no education in economics

Show description

Read Online or Download Benefit Transfer of Environmental and Resource Values: A Guide for Researchers and Practitioners PDF

Similar econometrics books

Handbook of Financial Econometrics, Volume 1: Tools and Techniques (Handbooks in Finance)

This choice of unique articles―8 years within the making―shines a vibrant gentle on contemporary advances in monetary econometrics. From a survey of mathematical and statistical instruments for realizing nonlinear Markov methods to an exploration of the time-series evolution of the risk-return tradeoff for inventory industry funding, famous students Yacine Aït-Sahalia and Lars Peter Hansen benchmark the present kingdom of data whereas individuals construct a framework for its development.

Modelling Irregularly Spaced Financial Data: Theory and Practice of Dynamic Duration Models

From the stories of the 1st edition:"This ebook regards monetary aspect techniques. … important threat and liquidity measures are built through defining monetary occasions by way of fee and /or the amount strategy. a number of functions are illustrated. " (Klaus Ehemann, Zentralblatt MATH, Vol. 1081, 2006)

Interest-Rate Management

The complexity of latest monetary items in addition to the ever-increasing value of by-product securities for monetary probability and portfolio administration have made mathematical pricing types and finished possibility administration instruments more and more vital. This ebook adresses the wishes of either researchers and practitioners.

Dynamic Programming of Economic Decisions

Dynamic Programming is the research of multistage determination within the sequential mode. it's now well known as a device of serious versatility and gear, and is utilized to an expanding quantity in all levels of monetary research, operations study, expertise, and likewise in mathematical thought itself. In economics and operations learn its influence may possibly sometime rival that of linear programming.

Extra resources for Benefit Transfer of Environmental and Resource Values: A Guide for Researchers and Practitioners

Sample text

The model assumes that, after considering the pros and cons of all options, people will make choices that they expect to provide the greatest long-term satisfaction or utility. , benefits, costs, and WTP) with the well-being of individuals, households, or groups. The choice of valuation method(s) is determined by the type of values that are likely to be present. Revealed preference methods are based on the analyses of observed human behavior. Examples include recreation demand models and hedonic property value models (Bockstael and McConnell 2010; Champ et al.

2002, 2006). Structural benefit transfer requires the analyst to specify a specific, structural preference or utility function able to describe an individual’s choices over a set of 5 Johnston et al. (2006a) illustrate the potential risks of this approach related to the sensitivity of resulting transfer estimates. J. Johnston et al. market and nonmarket goods, presuming standard budget-constrained utility maximization. One then derives analytical expressions that determine a relationship between each available benefit measure from existing primary studies and the assumed utility function, inasmuch as possible guided by economic theory.

2004). Here, we focus on the basic theoretical foundation for benefit or value estimation, although similar theoretical guidelines apply to the estimation of most empirical quantities used within benefit transfer. , businesses). They are always quantified in comparative terms, relative to a welldefined baseline, and reflect the welfare (or well-being) of individuals or groups. For individuals, benefits are generally measured as the maximum amount of other goods that the individual is willing to forego in order to obtain another good that is desired.

Download PDF sample

Rated 4.35 of 5 – based on 15 votes