The effects of the flood control project of the Kakehashi River on the heritage value of Komatsu Tenmangu (a Shinto shrine) in Japan are analyzed in terms of Amartya Sen’s capability approach. The shrine was founded in 1657, and its main buildings are nationally designated “important...

This article illustrates how the real options approach to public project evaluation is executed with a large-scale forest road construction project in one of the national park regions in Japan as a case study. Paying due attention to the existence of specified beneficiaries who want to make sure...

To facilitate a redesign of current economic and legal institutions to protect the environmental resource basis of material well-being, this paper proposes a new type of micro-accounting called environmental resource accounting (ERA) and illustrates its usefulness in terms of several practical...