Abstract
Commodities and services traded in markets are priced, and economic activity is conducted when people compare and consider the prices and quality/quantity of products on sale. However, it is difficult to form a market for the environmental commodity because of its non-excludability. That is, it can be used without paying a price. Therefore, it becomes difficult to fulfill supply and demand appropriate for its value, and both undersupply and overuse occur.
As a result, it has become necessary to determine standards for the adequate supply and use of the environmental commodity by means of economic valuation, comparing and considering its value. Here, various methods to quantify the monetary value have been developed. The preference-independent valuation method evaluates environmental value based on scientific data, while the preference-dependent valuation method is based on peoples’ preferences. This chapter focuses on the latter method.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Bateman I, Willis K (eds) (2002) Valuing the environment preferences: theory and practice of the contingent valuation method in the US, EC, and developing countries. Oxford University Press, Oxford
Bateman I et al (2004) Economic valuation with stated preference techniques: a manual. Edward Elgar Publishing, Cheltenham
Carson RT (2007) The stated preference approach to environmental valuation: applications: benefit-cost analysis and natural resource damage assessment. Ashgate Pub Co, Berlington
Demura K, Yamamoto Y, Yoshida K (authors and editors) (2008) Economic valuation of agricultural environment – multifaceted function, environmental accounting, ecology. Hokkaido University Press, Sapporo
Turner KK, Pearce D, Bateman I (1993) Environmental economics: an elementary introduction. The Johns Hopkins University Press, Baltimore, pp 108–128
Yabe M (2007) Environmental values and contingent valuation method. In: Tokimasa T, Yabuta M, Imaizumi H, Ariyoshi N (eds) Economics of environment and resources. Keiso Shobo Publishing Co., Ltd, Tokyo, pp 162–179
Yabe M (2012) Valuation of preservation value of biodiversity and cultural scenery in Aso Plain. In: Yokogawa H, Takahashi Y (authors and editors) Agricultural formation in bioresearch context and direct payment for environment – approach from agricultural environmental policy theory. Seizansha, Co., Ltd, Sagamihara, pp 173–193
Yabe M (2014) Definition of multifaceted function, policy measures, and economic valuation. In: Yabe M (author and editor) Multifaceted function of grassland farming and animal welfare. Tsukuba Shobo, Tokyo, pp 14–39
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2016 Springer Japan
About this chapter
Cite this chapter
Yabe, M. (2016). Monetary Value of the Environment: Theory and Method. In: Shimaoka, T., Kuba, T., Nakayama, H., Fujita, T., Horii, N. (eds) Basic Studies in Environmental Knowledge, Technology, Evaluation, and Strategy. Springer, Tokyo. https://doi.org/10.1007/978-4-431-55819-4_13
Download citation
DOI: https://doi.org/10.1007/978-4-431-55819-4_13
Published:
Publisher Name: Springer, Tokyo
Print ISBN: 978-4-431-55817-0
Online ISBN: 978-4-431-55819-4
eBook Packages: Earth and Environmental ScienceEarth and Environmental Science (R0)