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• W2256755997 abstract "In this paper the concept of total economic value of an environmental asset is introduced. The different valuation methods, putting a monetary value on environmental resources as a nonmarket good are also reviewed. Particular emphasis is placed on policy-making and the link of contingent valuation method to standard economic theory. Potential measurement bias attached to the contingent valuation estimates are also reviewed, addressed in terms of an efficient survey design and alternative microeconomic formulations. From an economic perspective, one might argue that the city makes up a local market which is able to shape its own pathway as the result of ‗invisible hand' forces. This would certainly justify a case for a non-interventionist policy, provided all conditions for market equilibrium in the city would be fulfilled. However, the city is a complex spatial entity characterized by a great deal of positive and negative externalities. The positive externalities emerge from the economies of spatial density such as scale and agglomeration advantages. The negative externalities are related to the decay in urban quality of life (e.g., congestion, criminality, socio-economic equality). Such externalities can be analyzed at the meso level of urban or local economies, but are essentiality related to micro decisions of individual actors. How do urban citizens value their environment? Which information is needed by urban planners to design a pleasant quality of life? A micro-cosmic approach may be helpful in mapping out the environmental wishes and the willingness-to-pay of urban actors. Seen from the perspective or urban quality of life, the present paper resorts to lessons from environmental economics, in particular modern evaluation techniques which have proven to offer a new analytical angle for studying the complex" @default.
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• W2256755997 title "Economic Valuation, Values and Contingent Methods: An Overview" @default.
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