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Contingent valuation

Introduction and definition The contingent valuation method (CVM) is a widely used method for estimating economic values for all kinds of ecosystem services and environmental goods which are not traded in …

Policy instruments for sustainable tourism

Policy instruments for more sustainable tourism management are not different in essence from instruments in other fields of environmental public policy. They can be classified into economic (or market-based), regulatory …

Needs

Maslow‚Äôs pyramid The notion of needs was initially developed in the field of psychology by Abraham Maslow to explain individual motivation process (Maslow, 1943). His ‚Äėhierarchy of human needs‚Äô consisted of …

Funds and stocks

While conventional economics tries to approach natural resources through monetary means, ecological economics stresses the need to make the biogeochemical characteristics of resources explicit. This allows for a distinction between …

Customary rights and legal pluralism

‚ÄėCustomary rights‚Äô refer to established, traditional patterns of norms that can be observed within a particular socio-cultural setting (Thompson, 1991). Sets of customary rights and obligations may be called customary …

Joint forest management

Originating in the early 1970s, the concept of joint forest management (JFM) is the official and popular term in India and elsewhere for partnerships in forest management involving both the …

GDP accounting and critiques

Definition and methods Macroeconomic accounting establishes the size of the economy by measuring the Gross Domestic Product. It is called ‚Äėgross‚Äô, because the depreciation and amortisation of capital (deduction of capital …

Well-being

The term ‚Äėwell-being‚Äô is most commonly used to describe what is ultimately good for a person. The question of what well-being consists of is of great importance for various disciplines, …

Public participation in environmental decision-making

There is a growing body of literature on public participation in environmental assessment and decision-making, within which several authors (e.g. Antunes et al., 2009; NRC, 2008) have proposed a set …

Institutions

Contrary to standard economic theory emphasising the role of individuals, ecological economists such as Daniel Bromley (2006) or Arild Vatn (2005) have highlighted the prominent role of institutions in shaping …

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