TRANSPORT, THE ENVIRONMENT AND THE ENVIRONMENT. CHAPTER 14. PROBLEMS OF VALUATION DISCUSSED

The problems involved in placing a value on the environment set out in the previous chapter are discussed. These include the timidity currently adopted in attempting valuation, the desirability of valuation and the methods developed. The author particularly takes issue with the use of multicriteria analysis (MCA) and sets out a number of arguments against it. Regulation and pricing are considered as methods of coping with environmental pollution. The use of behavioural and normative values are discussed. The reliability of some of the valuation methods described is questioned and a suggestion made for estimating willingness to pay based on recorded information of activities and estimates of what could have been willingly given up. For the covering abstract of the textbook see IRRD 854369.