The Economic Valuation of Environmental Amenities and Disamenities: Methods and Applications

Posted: 4 Jun 2010

See all articles by Robert O. Mendelsohn

Robert O. Mendelsohn

Yale University - School of Forestry & Environmental Studies; Yale University

Sheila M. Olmstead

LBJ School of Public Affairs; Resources for the Future

Date Written: November 2009

Abstract

There have been significant improvements over the past four decades in our ability to estimate the economic value of environmental amenities and disamenities. The development of many new techniques has broadened what can be measured to include climate change impacts, damages from hazardous waste sites and air pollution emissions, and the value of many ecosystem services. We review the major economic valuation techniques, as well as numerous applications of these valuation methods. However, there remain challenges ahead. The interface between economics and the natural and physical sciences must be strengthened. Additional well-controlled natural experimentsare always needed. The application of valuation methods outside of the United States remains a monumental task. Reliable measures of nonuse values remain elusive.

Suggested Citation

Mendelsohn, Robert O. and Olmstead, Sheila M., The Economic Valuation of Environmental Amenities and Disamenities: Methods and Applications (November 2009). Annual Review of Environment and Resources, Vol. 34, pp. 325-347, 2009. Available at SSRN: https://ssrn.com/abstract=1599081 or http://dx.doi.org/10.1146/annurev-environ-011509-135201

Robert O. Mendelsohn (Contact Author)

Yale University - School of Forestry & Environmental Studies ( email )

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Yale University ( email )

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Sheila M. Olmstead

LBJ School of Public Affairs ( email )

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Resources for the Future ( email )

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