AREC365 Study Guide - Final Guide: Human Capital, Regression Analysis, Beluga Whale
11 Apr 2016
School
Department
Course
Professor
Document Summary
Putting a dollar figure on nature: measuring non-market benefits and costs: Nowadays people know the price of everything and the value of nothing. I believe that the great part of miseries of mankind are brought upon them by false estimates they have made of the value of things. Growing demand for including environmental impacts in economic analysis: cost-benefit analysis (cba), environmental costing/green taxes, green national accounting, compensation payments in pollution incidents. Providing a qualitatively description of environmental impacts may be relevant to inform decision-making, but . Claiming unquantifiable or infinite value may result in implicit value of 0. Pollution has effects on human health: morbidity and mortality. Reducing these effects has a real cost. Often interested in value of mortality and morbidity. For market goods, we generally have a good understanding of the dimensions/attributes that affect value: the result of years of market observations and everyday cost- benefit decision making by individuals.
