Valuing ecosystem services in general equilibrium
By: Jared C. Carbone, V. Kerry Smith
Contributors: Smith, V. Kerry (Vincent Kerry), 1945-; National Bureau of Economic Research
Series: NBER working paper series -- working paper 15844; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 15844.
Publisher: National Bureau of Economic Research
Published: 2010
Place of publication: Cambridge, MA
Language: eng
Format: [electronic resource] /
Description: "We explore the consequences of treating the multiple, non-market benefits associated with improvements in ecosystem health and the market economy from which damage to these ecosystems stems as an integrated system.  We find that willingness to pay measures of use-based ecosystem services are impacted by the changes in demand for complementary market goods.  Demand for these goods shifts due to the introduction of pollution regulations that deliver improvements in ecosystem services.  As a result, partial equilibrium estimates of these use values may be measured with substantial error if they fail to account for the general equilibrium adjustments caused by the regulation.  We also find that the basic physical/biological connections between the resources underlying use and non-use values for ecosystems may have important implications for the measurement of these values"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 4/1/2010.

Includes bibliographical references.

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