EDRD 3500 Lecture Notes - Lecture 31: Genuine Progress Indicator, Environmental Impact Assessment, Environmental Health
3 Apr 2018
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Document Summary
Read the article by kealy (1991) titled economic quantification of leisure benefits . Kealy writes that in the past, there was a basic assumption that economic benefits of leisure needed to be quantified as not to undervalue these benefits. For that reason, management indicators (i. e. , leading indicators of performance used primarily for making decisions and for allocating spending to achieve the greatest level of performance) and performance. Indicators (i. e. , after-the-fact measures of the outcome of previous decisions used primarily for things like dollars scorekeeping and to justify past decisions) were used to assess economic impacts. In more recent years, alternative measuring tools such as socio-psychological measures (e. g. satisfaction ratings, quality of life measures, mood changes, health index etc. ), or the genuine progress index (gpi) or the contingent. Valuation method (cvm) have been used to better capture the changes that concur from leisure.
