xid-7580984_2 - Thursday, Oct 13 1. Next - Valuation of...

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Thursday, Oct 13 1. Next - Valuation of environmental and natural resources. How do we estimate the value and cost of environmental amenities? Environmental problems are usually a side effect of beneficial activities - Travel, Electric power, Agriculture, Production of goods and services What is the value of reducing environmental problems? What is the value generated by natural and environmental resources? Access to a beach, lake, park? Access to clean air and clean water? Example - turtle crossing project at Lake Jackson on N. Monroe - estimated cost about $.5 million. As with all else in economics, we want to achieve the optimal amount of environmental quality or resource preservation. So we want to know the marginal benefits and marginal costs of the law, regulation, or project. How to put a dollar value on the benefit provided by this project? Some object to ‘putting a price’ on the environment – may be philosophically or morally opposed, but… How else to assess benefits and preferences regarding environmental policy? Any policy will have benefits and costs – so, how to pay for a policy?
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xid-7580984_2 - Thursday, Oct 13 1. Next - Valuation of...

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