We study how income inequality affects the social value of a dynamic public good, such as natural capital. Our theory … size of the effects are driven by the degree of substitutability between the public and private consumption goods. While … values between study and policy contexts, or to up-scale values from study sites to the national scale. Our theory provides …

While the global economy continues to grow, ecosystem services tend to stagnate or decline. Economic theory has shown … empirical evidence has been sparse to put theory into practice. To estimate the relative price change in ecosystem services that … income elasticities of willingness to pay (WTP) for ecosystem services to proxy the degree of limited substitutability. Based …

substitutable with manufactured goods and often exhibit considerably lower growth rates. Theory has shown that we should either … rates of 15 ecosystem services and the degree of limited substitutability based on a meta-analysis of 36 willingness to pay …

services. This paper focuses on intermediate ecosystem services in production and shows that for limited substitutability and a …

investigate whether this rule indicates sustainability and requires substitutability between manmade and natural capital. In …

between nations. Production of output necessarily involves pollution and degrading the environment. Therefore, environmental …? National income accounts do not take into account non-market activities. Some progress has been made in the theory and …