In this paper we consider how conservation has arisen as a key aspect of the reaction to human-initiated degradation and disappearance of ecosystems, wild lands. and wildlife. Concern over species extinction is given an historical perspective which shows the way in which pressure on wild and...

The use of deliberative methods to assess environmental values in monetary terms has been motivated by the potential for small group discussion to help with preference formation and the inclusion of non-economic values. In this review, two broad approaches are identified: preference...

Stated preference (SP) surveys have been conducted to value non-timber benefits (NTBs) from forests in Norway, Sweden and Finland for about 20 years. The paper first reviews the literature and summarises methodological traditions in SP research in the three countries. Second, a meta-regression...

Ken Arrow (1998) asks, “What has economics to say about racial discrimination?” He replies – entirely correctly – that racial “segregation within an industry – that is, firms with either all black or all white labor forces” – may be explained by economic theory, but “the...

The Neoclassical Theory assumes that individuals are essentially selfish and maximize the utility of their income, measured on some utility scale. It defines the rationality of individuals based on preference relations, which should not change by the context. However, it is a fact that...

Wellbeing in general is represented in terms of the quality of life of an individual or group. The different objective and subjective indicators that go into the composition of quality of life leave its definition and measurement elusive, despite its global recognition as a policy goal. Attempts...

Under the background of the electronic security trading platform Xetra operated by Frankfurt Stock Exchange, we consider the Xetra auction market system (XAMS) from `bottom-up', which the interaction among heterogeneous traders and Xetra auction market mechanism generates non-equilibrium price...

Wellbeing has always eluded definition, and the elusive definition, in turn, has denuded the concept of an objective measure. Attempts at an objective measure have brought out two basic methodological alternatives. The first, objective, measure has come out as the famous Physical Quality of Life...

This paper provides a new construction of the Sustainable Livelihood Framework. Underlying the need for this reconstruction is the persisting argument that the framework is too micro, too household focused, thereby limiting its utility as a micro-macro analytical tool for policy analysis and...

When the market for a certain good is competitive enough, economic activities can be studied by the market pricing mechanism. Because this is usually not feasible in case of environmental goods with embodied natural and cultural heritage, particular methods for economic valuation of such goods...