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Valuing Natural Resource and Environmental Amenities: Can Economic Valuation Be Made Defensible?

  • Nancy E. Bockstael (a1)

Extract

The topic of this address may seem somewhat remote from the traditional interests of agricultural economists. Yet it has been of central concern to those of us involved in natural resource and environmental issues. Given the direction in which agricultural economics is currently moving, it may soon prove to be as perplexing a problem in that arena as well.

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Bockstael, N. E., and Strand, I. E.The Nature of Error in Recreation Demand Analysis and its Effect on Benefit Estimates,” manuscript, University of Maryland. College Park, Maryland. 1984.
Bockstael, N. E., Strand, I. E. and Hanemann, W. M.Time and Income Constraints in Recreation Demand Analysis,” manuscript, University of Maryland, College Park, Maryland. 1984.
Hanemann, W. M.Some Further Results on Exact Consumer's Surplus,” manuscript, University of California, Berkeley. California. 1982.
Hausman, J. A.Exact Consumer's Surplus and Deadweight Loss,” AER (1981):662676.
Just, R., Hueth, D. and Schmitz, A. Applied Welfare Economics. New York, Prentice Hall. 1982.
Kuhn, Thomas S. Structure of Scientific Revolutions. University of Chicago Press. 1969.
Stoll, J. R., Shulstad, R. N., and Smathers, W. M. Jr. Nonmarket Valuation: Current Status, Future Directions. Proceedings of a Regional Workshop, Southern Natural Resources Economics Committee. 1983.
Strand, Ivar E. and Bockstael, Nancy E.Biasedness and Inconsistency in Certain Consumer Surplus Estimates,” manuscript, University of Maryland, College Park, Maryland. 1984.
Vartia, Y. O.Efficient Methods of Measuring Welfare Charge and Compensated Income in Terms of Ordinary Demand Functions,” Econometrica 51 (1983):7998.
Willig, R. D.Consumer Surplus Without Apology,” American Economic Review 66 (1976):589–97.

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