Environmental Valuation (Special Course)
Lecturer:
Date: to
Type: Workshop/Seminar, Presence
Short Description: The course offers an advanced treatment of environmental valuation methods and applications. We begin with a discussion of the conceptual basis for nonmarket valuation, based on classical welfare economics. We then discuss models and applications that are used in specific contexts, including recreation demand, property values, and human health. We also cover stated preference methods and applications. Throughout we emphasize both theoretical motivations and empirical methodologies. Time allowing, we will discuss integrated assessment models (IAMs) for air and water pollution valuation.
Participation requirements: Participants are expected to have a strong grasp of microeconomics, especially as related to the theory of the consumer. Students should also have a strong basis in applied econometrics, with experience using discrete choice models being useful.
Lecture1: Theory of Applied Welfare Economics and Revealed Preference (based on chapters 14 and 15 in Phaneuf and Requate)
Time: Wednesday, December 2, 10:00 – 12:00
Lecture2: Discrete Choice Econometrics and Recreation Demand (based on chapters 16 and 17 in Phaneuf and Requate)
Time: Wednesday, December 2, 14:00 – 16:00
Q&A session (optional): Wednesday, December 2, 16:00 – 17:00
Lecture3: Property Value Models (based on chapter 18 in Phaneuf and Requate)
Time: Thursday, December 3, 10:00 – 12:00
Lecture4: Stated Preference Methods (based on chapter 19 in Phaneuf and Requate)
Time: Thursday, December 3, 14:00 – 16:00
Q&A session (optional): Thursday, December 3, 16:00 – 17:00
Lecture5: Valuing Health Outcomes (based on chapter 20 in Phaneuf and Requate)
Time: Friday, December 4, 10:00 – 12:00
Q&A session (optional): Friday, December 5, 12:00 – 13:00
Literature
Keiser, D., D. Phaneuf, et al. (2026). “Gross external damages of water pollution in the United States,” manuscript.
Muller, Nicholas Z., Robert Mendelsohn, and William Nordhaus. 2011. “Environmental Accounting for Pollution in the United States Economy.” American Economic Review 101 (5): 1649–75.
Phaneuf, D. and Requate, T.: A Course Environmental Economics: Theory, Policy and Practice, Cambridge University Press, 2017.
Registration
Please register by 18 November via e-mail at: m.schnabel@wifa.uni-leipzig.de