This article develops a “real options” approach for planning new water resources infrastructure investments and their operating strategies in a world of climate change uncertainty. The approach is illustrated with an example: investments in large new multipurpose dam alternatives along the...

This paper proposes and illustrates the use of a new approach to benefit transfer for the non-market valuation of environmental resources. It treats transfer as an identification problem that requires assessing whether available benefit estimates permit the parameters of a preference function to...