Harold Hotelling proposed the first method for non-market valuation. Most of us believe this is the Travel Cost Method. In this paper I argue that the first method is from Hotelling's seminal study on the extraction of exhaustible resources. The first method is dynamic optimisation as applied to...

Australian crop and livestock farmers face uncertain climate change and variability and a challenge for adaptation decisions. These decisions can be (1) adjustments to practices and technologies, (2) changes to production systems, or (3) transformation of industries, for example, by relocation...

Coastal aquifers are highly sensitive natural systems that require careful management and adequate planning in order to ensure that they are not over-exploited. The development of effective management strategies is particularly pertinent to coastal communities faced with increasing population...

Non market valuation and bio economic modelling are combined in a dynamic model of ecosystem services. A mathematical proof demonstrates that the imputed price of natural capital contains all non market values and that scarcity rent is the total value of ecosystem services. A dynamic demand...

This study applied a modified deterrence model to evaluate the effectiveness of legitimacy and ethical factors compared to deterrence measures for compliance with mesh size regulation in the Jebel Aulia Reservoir of Sudan. The ordered probit and zero-truncated negative binomial models were...

An input-output framework with environmental accounting module was used to investigatethe implications of liberalising agricultural trade on the environment in South Africa. Theresults showed that trade liberalisation in the case of agricultural commodities will lead toenvironmental improvement....

Economists and statisticians constructing the national income accounts usually overlook the many benefits derived by communities from natural forests and woodlands. This study attempted to impute a value for the ecosystem services of these resources in Swaziland employing an environmental...