ENV221H1 Lecture Notes - Lecture 6: Public Enemy, 2015 United Nations Climate Change Conference, Junk Science
Document Summary
Should we protect for moral reasons alone and not need economic justification. Fundamental concepts of willingness to accept (wta) and pay (wtp) Hedonic pricing goods term hedonic derived from greek word meaning pleasure . Measures effect environmental; qualities have on price of related market: eg. impact on house pricing of neighbourhood environmental conditions like air quality, distance to roads. Essentially analyses market behavior what people are willing to pay for environmental amenities/well being. What would you pay/what would you be willing to give up. Method is called contingent because the valuation questions are concealed in some hypothetical market setting. Method has been used for wide range of environmental services. Dependent on income potential (if you don"t make enough money, you can"t afford the amenities you want) Climate change - lecture 6 by changes in our climate . Californian governor schwarzenegger declared [ ] we see the threat posed. 2006 inconvenient truth came out al gore.
