Monetary value of the environment: Theory and method

Research output: Chapter in Book/Report/Conference proceedingChapter

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.

Original languageEnglish
Title of host publicationBasic Studies in Environmental Knowledge, Technology, Evaluation, and Strategy
Subtitle of host publicationIntroduction to East Asia Environmental Studies
PublisherSpringer Japan
Pages171-181
Number of pages11
ISBN (Electronic)9784431558194
ISBN (Print)9784431558170
DOIs
Publication statusPublished - Jan 1 2016

Fingerprint

valuation
commodity
Economics
Sales
environmental values
market
economic activity
theory of the environment
method
economics
price

All Science Journal Classification (ASJC) codes

  • Environmental Science(all)
  • Engineering(all)

Cite this

Yabe, M. (2016). Monetary value of the environment: Theory and method. In Basic Studies in Environmental Knowledge, Technology, Evaluation, and Strategy: Introduction to East Asia Environmental Studies (pp. 171-181). Springer Japan. https://doi.org/10.1007/978-4-431-55819-4_13

Monetary value of the environment : Theory and method. / Yabe, Mitsuyasu.

Basic Studies in Environmental Knowledge, Technology, Evaluation, and Strategy: Introduction to East Asia Environmental Studies. Springer Japan, 2016. p. 171-181.

Research output: Chapter in Book/Report/Conference proceedingChapter

Yabe, M 2016, Monetary value of the environment: Theory and method. in Basic Studies in Environmental Knowledge, Technology, Evaluation, and Strategy: Introduction to East Asia Environmental Studies. Springer Japan, pp. 171-181. https://doi.org/10.1007/978-4-431-55819-4_13
Yabe M. Monetary value of the environment: Theory and method. In Basic Studies in Environmental Knowledge, Technology, Evaluation, and Strategy: Introduction to East Asia Environmental Studies. Springer Japan. 2016. p. 171-181 https://doi.org/10.1007/978-4-431-55819-4_13
Yabe, Mitsuyasu. / Monetary value of the environment : Theory and method. Basic Studies in Environmental Knowledge, Technology, Evaluation, and Strategy: Introduction to East Asia Environmental Studies. Springer Japan, 2016. pp. 171-181
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