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Table Of Contents

HERE ARE SOME QUESTIONS:
CAN ECONOMICS SUPPLY THE ANSWERS?
TRADEOFFS AND THE ENVIRONMENT
VALUATION AND THE GREAT LAKES
References
FEDERAL LAWS, COURT RULINGS, AND EXECUTIVE ORDERS
Cost-Benefit Comparisons
Economic Assessment of Natural Resource Damages
Economics for Other Purposes
State Laws
RULES OF THE GAME: THE DEVIL’S IN THE DETAILS
Guidance for Cost-Benefit Analysis
Guidance for Conducting Natural Resource Damage Assessments
CONCLUSION
VALUE IN THE EYES OF THE ECONOMIST
Economic Value as Willingness to Pay
Goal: A Common Metric to Answer “What If” Questions
Caution: Simplifying Assumptions
HOW DO WE VALUE THE GREAT LAKES? LET US COUNT THE WAYS
Market and Nonmarket Values
Use and Nonuse Values
Values from Extractive and In Situ Services
Monetizable and Nonmonetizable Benefits
ANALYTICAL CHALLENGES
Converting Great Lakes Benefits of the Future to Present-Day Value
Irreplaceable Amenities and Irreversible Outcomes
Accounting for Natural Resource Capital
Risk and Uncertainty
Sorting Through Benefits from Multiple Projects
Accounting for Secondary Impacts
SOCIAL JUSTICE AND ETHICAL CHALLENGES
Distribution of Benefits Across Society
Distribution of Benefits Across Generations
Placing a Value on Human Life and Health
COST-BENEFIT ANALYSIS: WILL THE INTERVENTION PAY OFF?
COST-EFFECTIVENESS ANALYSIS: WHAT’S THE BIGGEST BANG FOR THE BUCK?
NATURAL RESOURCE DAMAGE ASSESSMENT: WHAT DID WE LOSE?
ECONOMIC IMPACT ANALYSIS: DOES ECONOMIC ACTIVITY INCREASE?
VALUE CLARIFICATION: DID WE MISS SOMETHING?
Changes in Producer and Consumer Surpluses
Defensive Expenditures
VALUING NONMARKET ENVIRONMENTAL GOODS AND SERVICES
Meta-Analysis
Recommended Reading
CLARIFYING THE SCENARIO AND THE QUESTION TO BE ASKED
SCOPING THE BENEFITS
SELECTING THE TOOL TO ANSWER THE QUESTION
COMPLEXITIES
RISK AND UNCERTAINTY
MAGNITUDE AND GEOGRAPHIC SCALE
PRINCIPLES OF VALUATION
TECHNIQUES FOR VALUATION
THE VALUE OF A STATISTICAL LIFE
COMPARISONS WITHOUT VALUATION
VALUATION OF POTENTIAL HEALTH EFFECTS OF POLLUTION IN THE GREAT LAKES
Fish Consumption
Air Pathways
EQUITY CONSIDERATIONS IN ECONOMIC VALUATION
Adjusting for Quality of Life and Life Expectancy
Involuntary Exposures
Effects on Sensitive Populations
Great Lakes Web Sites and Valuation References
Resources for Performing Great Lakes Environmental Valuations
Resources for Economic Valuation of Environmental Benefit Studies
Project Collaborators
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Economic Value of Protecting the Great Lakes

Economic Value of Protecting the Great Lakes

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Published by Wajid Raza

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Published by: Wajid Raza on Oct 21, 2011
Copyright:Attribution Non-commercial

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10/21/2011

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