CONTRIBUTION OF ECONOMIC VALUATION TO ENVIRONMENTAL PROTECTION.

Since the mainstreaming of the concept of economic valuation, there's been an intensive debate concerning its appropriateness, i.e. whether it is purely academic exercise or it serves a concrete purpose. In the paper the necessity of the use of economic valuation, both in terms of policy-making and in the process of environmental management decision-making has been analyzed. Based on the available literature, the authors gave an overview of the areas in which it is possible to apply the results of the economic valuation, as well as examples in the form of specific nonmarket valuation studies, in which economic valuation influence the final outcome in direct, indirect way or by altering debate. [ABSTRACT FROM AUTHOR]

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