Methods for Determining Economic Damage to The Environment
Keywords:
Economic damage, environmental degradation, environmental economics, contingent valuation, cost-benefit analysis, ecosystem services, sustainable development, damage assessmentAbstract
environment, focusing on the quantitative and qualitative approaches used in environmental economics. The paper discusses the challenges associated with estimating the economic impact of environmental degradation, highlighting both direct and indirect effects on ecosystems, public health, and the economy as a whole. It presents several established techniques, including contingent valuation, cost-benefit analysis, and the damage function approach, as well as emerging methods that incorporate ecosystem services and sustainable development principles. The article aims to provide a comprehensive understanding of how economic damage assessments can guide policy-making and contribute to the implementation of environmental protection measures.
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