week 11 notes

week 11 notes - • 40,000 for ecosystem protection • a...

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Week 11 - Issue 3 Should a price be put on the goods and services provided by the world’s ecosystem? COST-BENEFIT ANALYSIS examples New York water was becoming polluted low cost, high benefit willingness to pay 33 trillion - value that the ecosystem of the globe provides to humans Determining the cost of environment is complicated hidden costs (parking lot vs. swamp, wildlife) Ecological economists if environment was given a value, people would care more
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Unformatted text preview: • 40,000 for ecosystem protection • a value of an ecosystem cant be measured (subjective) NO • putting value is inadequate and misleading • techniques to give values • conventional market approaches--• household production functions • hedonic pricing - market price • experimental methods cost-benefit analysis bad because it is dependent on a single scale of values . contingent evaluation 3 reasons why its bad to use...
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