Monday, March 29, 2010
Environmental Valuation and General Equilibrium
I'm not a fan of most approaches to non-market environmental valuation and one of my criticisms is that once all externalities would be internalized all market prices would change including in turn the valuations placed on the current non-market goods. Existing valuations of non-market environmental goods are partial equilibrium estimates which could be very misleading. I haven't always
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