In many countries environmental policies and regulations are implemented to improve environmental quality and thus individuals' well-being. However, how do individuals value the environment? In this paper, we review the Life Satisfaction Approach (LSA) representing a new non-market valuation...

Revolutionary developments in economics are rare. The conservative bias of the field and its enshrined knowledge make it difficult to introduce new ideas not in line with received theory. Happiness research, however, has the potential to change economics substantially. Its findings, which are...

The conservation of the cultural heritage is expensive and it is necessary to decide what is worth to preserve. A method is needed to value that cultural heritage. This article examines diverse evaluation procedures proposed by the economists such as studies of impact or willingness to pay,...