Using Ecological Production Theory to Define and Select Environmental Commodities for Nonmarket Valuation
2013 ◽
Vol 42
(1)
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pp. 1-32
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Keyword(s):
Economic analyses of nature must somehow define the “environmental commodities” to which values are attached. We articulate principles to guide the choice and interpretation of nonmarket commodities. We describe how complex natural systems can be decomposed consistent with “ecological production theory,” which, like conventional production theory, distinguishes between biophysical inputs, process, and outputs. We argue that a systems approach to the decomposition and presentation of natural commodities can inform and possibly improve the validity of nonmarket environmental valuation studies. We raise concerns about interpretation, usefulness, and accuracy of benefit estimates derived without reference to ecological production theory.
2021 ◽
Vol 18
(12)
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pp. 6406
2002 ◽
Vol 45
(10)
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pp. 321-328
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2003 ◽
Vol 1819
(1)
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pp. 210-217
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2007 ◽
Vol 8
(4)
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pp. 187-193
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1983 ◽
Vol 15
(2)
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pp. 119-125
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