Non-market valuation has become a broadly accepted and widely practiced means of measuring the economic values of the environment and natural resources. In this book, the authors provide a guide to the statistical and econometric practices that economists employ in estimating non-market values

This chapter explores the theory and practice of measuring the economic costs and benefits of environmental changes that influence production, both in the context of firms and of households. The theory uses models of household and firm decision making to map the influence of environmental...