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Economic Valuation of Watershed Services of Commons: Marginal Opportunity Cost Approach within the Environmental Accounting Framework.

This paper extends the theoretical, conceptual and methodological developments in environmental economics literature to a particular case, namely the watershed services provided by the forests. Apart from discussing the conceptual issues such as trade-off between different kinds of benefits and the negative externality issues specifically relating to watershed services, this paper discusses how the size of the watershed benefits (as well as costs) could be estimated in a systematic and scientific way by using the various kinds of economic valuation techniques and ? environmental accounting? methodology. On the economic valuation of watershed services, this paper focuses exclusively on how the ? marginal opportunity cost? approach could be an appropriate valuation framework to properly estimate the size and magnitude of the externality experienced by different stakeholders, as well as the associated policy issues such as determining the the size of the payment and compensation.

Uploaded on: Mar 2008
File size: 217 KB - Language: English
Keyword(s): Watershed Management
Category: Inland Waters

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