Putting a Price on Protecting the Environment: Economic Valuation Unveiled
The article discusses how economists value environmental goods and services that are not bought or sold in markets. It explains the economic approach to valuing these items, which involves putting a dollar value on protecting the environment. The main goal is to help decision-makers understand the importance of considering the value of nature in their choices. Key findings include the different methods economists use to assign value to environmental resources, which can help in making better decisions for the environment.