Measurement of Environmental & Resource Values
A. Freeman

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Estimates of the economic values of environmental and resource services can be a useful part of the information base supporting resource and environmental management decisions, a premise substantiated by current environmental and resource policy issues. A. Myrick Freeman II examines in a clear and objective manner the relationship between benefits and environmental decision-making and the problems involved in measuring the values of environmental changes. In the manner of its distinguished predecessor the second edition of The Measurements of Environmental and Resource Values presents a comprehensive, rigorous treatment of benefit measurement, providing an introduction to the principal methods and techniques of resource and environmental valuation to professional economists and graduate students who are not directly engaged in the field. Features of the new edition include a reworking of the chapter on stated preference methods of valuation and new sections on the valuation of ecosystem functions and services, benefits transfer, and combining stated preference and revealed preference data. Practitioners in the field will welcome the work as an up-to-date reference on recent developments in the theory and methods underlying the practice of resource valuation. Readers of every kind will understand more clearly and appreciate the important role that estimates of the economic values of environmental and resource services can play in supporting resource and environmental management decisions.