Valuing the environment

INTRODUCTION: Environmental economists argue that environmental degradation has resulted from the failure of the market system to put any value on the environment (Dobson, 1991; Beder, 1996). According to the theory of supply and demand, if a good is provided at a zero price, demand would be higher than if it had a positive value, with the danger of being overused. Thus, as Costanza et al. (1997) argue, ecosystem services are not fully captured in commercial markets or …showed first 75 words of 2729 total…

…showed last 75 words of 2729 total…a Price on Nature's Services? By Mark Sagoff http://www.hlpusd.k12.ca.us/go/search/search_the_internet.html National Centre for Environmental Decision-making Research (NCEDR) , 1996, Cost Benefit analysis and Environmental Decision making, US Gregory R., 1998, Identifying Environmental Values, in Tools to Aid Environmental Decision Making, by Dale V.H. and English M.R (eds.), Springer-Verlag Web version of Beder S., 1996, The Environment Goes to Market, as submitted for publication in Democracy and Nature