Measurement of Environmental and Resource Values

A Myrick Freeman III is William D. Shipman Professor of Economics Emeritus at Bowdoin College in Maine, USA, and a former Senior Fellow at Resources for the Future (RFF), Washington DC, USA.  Joseph A. Herriges is Professor of Economics at Iowa State University. USA. He was Managing Editor of the Journal of Environmental Economics and Management from 2001-2006.  Catherine L. Kling is Charles F. Curtiss Distinguished Professor at Iowa State University, USA, and the Director of the Center for Agricultural and Rural Development. She is a former President of the Association of Environmental and Resource Economists.

• 1. Resource Evaluation and Public Policy 2. Measuring Values, Benefits, and Costs: An Overview 3. Welfare Measures: Definitions and Concepts 4. Welfare Measures: Theoretical Basis for Empirical Measurement 5. Valuing Changes in Risk 6. Aggregation of Values across Time 7. Valuing Longevity and Health 8. Environmental Quality as a Factor Input 9. Recreation Demand 10. Property Value Models 11. Hedonic Wage Models 12. Stated Preference Methods for Valuation 13. Additional Topics 14. Conclusions and the State of the Art

"This new edition provides the complete package in environmental valuation – adding more detail on empirical methods, surveys, behavioral economics, and frontier issues to the previous classic edition. A particularly appealing aspect of the book is the rigorous linkage between economic theory and the practice of valuation. It is truly an outstanding contribution to the field." – W.L. (Vic) Adamowicz, Professor, Department of Resource Economics and Environmental Sociology, University of Alberta, Canada. "This superb book sets a new standard for guidelines regarding the valuation of environmental resources. Embracing the full range of available methods, it provides a comprehensive and readily accessible guide to valuation exercises that will prove a key reference for both researchers and research users." – Ian Bateman, Professor of Environmental Economics, University of East Anglia, UK. "This book, co-authored by three of the world’s leading experts in the field of nonmarket valuation, should be on the shelf of anyone interested in an authoritative and up-to-date source of information about the theory and methods used in this field." – Kathleen Segerson, Alumni Association Distinguished Professor, Department of Economics, University of Connecticut, USA.