VALUING MARGINAL CHANGES IN THE QUALITY OF AN ENVIRONMENTAL ASSET

We present a model that extends the replacement cost theory to cases where benefits are restored for multiple years. Our theoretical framework derives a functional relationship between investments expenditures and environmental benefits. By extending the investment framework, we model reservoir benefits as a function of marginal changes in soil erosion.

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Year of publication:	2004
Authors:	Hansen, LeRoy T. ; Hellerstein, Daniel
Institutions:	Agricultural and Applied Economics Association - AAEA
Subject:	Environmental Economics and Policy

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Extent:	application/pdf
Series:	2004 Annual meeting, August 1-4, Denver, CO.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2004 Annual meeting, August 1-4, Denver, CO Number 20414
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005500458