The Place of Economic Values in Environmental Valuation

Abstract

Abstract Various aspects of the environmental values debate are first examined within the wider context of the sustainable economic development strategy and goal. Next, an expanded values classification is set out in order to define the limits of the conventional environmental economics concept of total economic value (use plus non‐use values). Particular attention is paid to the definition and measurement of bequest and existence values, as well as to some recent findings in the newly emerging ‘ecological economics’ literature that have implications for resource systems valuation. The chapter concludes with some environmental conservation policy implications.

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