Climate Change Threatens Coastal Recreation, Demands Comprehensive Economic Evaluation
The researchers developed a new method to evaluate the economic impact of beach erosion caused by climate change. They combined two existing approaches, one focusing on specific aspects and the other on overall market effects. By integrating these methods, they created a model that can accurately assess changes in environmental quality and their economic consequences. Through numerical experiments, they demonstrated that their model can provide a more comprehensive evaluation than previous methods, taking into account factors like price and income changes that were previously overlooked.