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| DOI | 10.1007/s10640-023-00838-7 |
| Relative Price Changes of Ecosystem Services: Evidence from Germany | |
| 发表日期 | 2024 |
| ISSN | 0924-6460 |
| EISSN | 1573-1502 |
| 起始页码 | 87 |
| 结束页码 | 3 |
| 卷号 | 87期号:3 |
| 英文摘要 | Discounting future costs and benefits is a crucial yet contentious practice in the appraisal of long-term public projects with environmental consequences. The standard approach typically neglects that ecosystem services are not easily substitutable with market goods and often exhibit considerably lower growth rates. Theory has shown that we should either apply differentiated discount rates, such as a lower environmental discount rate, or account for increases in relative scarcity by uplifting environmental values. Some governments already integrate this into their guidance, but empirical evidence is scarce. We provide first comprehensive country-specific evidence, taking Germany as a case study. We estimate growth rates of 15 ecosystem services and the degree of limited substitutability based on a meta-analysis of 36 willingness to pay studies in Germany. We find that the relative price of ecosystem services has increased by more than four percent per year in recent decades. Heterogeneity analyses suggest that relative price changes are most substantial for regulating ecosystem services. Our findings underscore the importance of considering relative price adjustments in governmental project appraisal and environmental-economic accounting. |
| 英文关键词 | Cost-benefit analysis; Discounting; Ecosystem services; Growth; Substitutability; Relative prices; Willingness to pay; D61; H43; Q51; Q54; Q58 |
| 语种 | 英语 |
| WOS研究方向 | Business & Economics ; Environmental Sciences & Ecology |
| WOS类目 | Economics ; Environmental Studies |
| WOS记录号 | WOS:001154260400001 |
| 来源期刊 | ENVIRONMENTAL & RESOURCE ECONOMICS
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| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/294233 |
| 作者单位 | Ruhr University Bochum; University of Hamburg; University of Hamburg; Ifo Institut |
| 推荐引用方式 GB/T 7714 | . Relative Price Changes of Ecosystem Services: Evidence from Germany[J],2024,87(3). |
| APA | (2024).Relative Price Changes of Ecosystem Services: Evidence from Germany.ENVIRONMENTAL & RESOURCE ECONOMICS,87(3). |
| MLA | "Relative Price Changes of Ecosystem Services: Evidence from Germany".ENVIRONMENTAL & RESOURCE ECONOMICS 87.3(2024). |
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