The first section of the book provides the context and theoretical foundation of nonmarket valuation, along with practical data issues.
The middle two sections of the Primer describe the major stated and revealed nonmarket valuation techniques. For each technique, the steps involved in implementation are laid out and described. Both practitioners of nonmarket valuation and those who are new to the field will come away from these methods chapters with a thorough understanding of how to design, implement, and analyze a nonmarket valuation study.
The concluding section takes stock of the usefulness of nonmarket valuation, highlighting chapters on benefit transfer, the role of nonmarket valuation in real decisions about natural resources, and where nonmarket valuation is headed in the future.
As a companion to A Primer on Nonmarket Valuation, a website has been developed, http://www.fs.fed.us/nonmarketprimerdata/. This website includes downloadable datasets for each of the techniques described in the Primer, as well as links to published journal articles and reports based on the data. The website also provides an opportunity for students to estimate models using the data.
The entries cover topics in a manner parallel to how environmental economics is commonly taught, addressing basic concepts, environmental policy, natural resource economics, market failure, exhaustible and renewable resources, benefit-cost analysis, and applied welfare economics. Additionally, the book includes entries on key concepts of economics, movements, events, organizations, important individuals, and research areas relevant to the study of environmental and natural resource economics. This work stands alone as the only title currently offering such a breadth of coverage and level of detail written specifically for readers without specialized knowledge of environmental economics.
Although policy analysis has long been dominated by assumptions originally developed for the examination of markets, such as efficiency, these essays by leading scholars - the best work done in the field over the past three decades - explore alternatives to the "market paradigm" and show how moral discrimination and choice can extend beyond the individual to encompass public decisions.
Chapters by John Martin Gillroy and Maurice Wade review the political philosophies of Immanuel Kant and David Hume as backgrounds for the development of modern concepts of public policy choice. They present this anthology as a first step in codifying options, arguments, and methods within this important developing area of policy studies.
Bromley argues that standard economic accounts see institutions as mere constraints on otherwise autonomous individual action. Some approaches to institutional economics--particularly the "new" institutional economics--suggest that economic institutions emerge spontaneously from the voluntary interaction of economic agents as they go about pursuing their best advantage. He suggests that this approach misses the central fact that economic institutions are the explicit and intended result of authoritative agents--legislators, judges, administrative officers, heads of states, village leaders--who volitionally decide upon working rules and entitlement regimes whose very purpose is to induce behaviors (and hence plausible outcomes) that constitute the sufficient reasons for the institutional arrangements they create.
Bromley's approach avoids the prescriptive consequentialism of contemporary economics and asks, instead, that we see these emergent and evolving institutions as the reasons for the individual and aggregate behavior their very adoption anticipates. These hoped-for outcomes comprise sufficient reasons for new laws, judicial decrees, and administrative rulings, which then become instrumental to the realization of desired individual behaviors and thus aggregate outcomes.