Estimating the Cost of Environmental Degradation
The following chapters describe a wide range of economic valuation techniques used to estimate the
benefits of policies or projects yielding environmental improvements. It keeps technical jargon to a
minimum and is intended as an introduction to the subject for project task managers, policy makers,
businessmen, and NGO officials dealing with environmental management issues.
The guide addresses the following questions:
§ When is a valuation technique a useful tool for decision-making?
§ What is the theoretical basis of economic valuation?
§ What are the technical and human resources needed to engage in a valuation process?
§ How is valuation used in practice?
Economic valuation of environmental and natural resources has benefited from a growing body of
academic literature, but the use of such valuation in policy making is far from pervasive, particularly
in developing countries where the difficult tradeoff between growth and the environment creates
opportunities for its use.
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