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- DescriptionMark Sagoff has written an engaging and provocative book about the contribution ecomics can make to environmental policy. Sagoff argues that ecomics can be helpful in designing institutions and processes through which people can settle environmental disputes. However, he contends that ecomic analysis fails completely when it attempts to attach value to environmental goods. It fails because preference-satisfaction has relation to any good. Ecomic valuation lacks data because preferences cant be observed. Willingness to pay is benchmarked on market price and thus may reflect producer cost t consumer benefit. Moreover, ecomists cant second-guess market outcomes because they have better information than market participants. Mark Sagoff's conclusion is that environmental policy turns on principles that are best identified and applied through political processes. Written with verve and fluency, this book will be eagerly sought out by students and professionals in environmental policy as well as informed general readers.
- Author BiographyMark Sagoff is Senior Research Scholar at the Institute for Philosophy and Public Policy, University of Maryland, College Park.
- Author(s)Mark Sagoff
- PublisherCambridge University Press
- Date of Publication06/09/2004
- Place of PublicationCambridge
- Country of PublicationUnited Kingdom
- ImprintCambridge University Press
- Weight514 g
- Width152 mm
- Height228 mm
- Spine23 mm
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