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Environmental Decision Making and Economics

Environmental policies and programs are intended to protect the health and well being of humans and ecosystems. Policies that protect the environment also provide economic value and other benefits to society. Federal environmental laws typically require some economic analyses to be conducted by implementing agencies.

Methods commonly used by economists to measure public values include revealed or stated preference methods and contingent valuation. Representatives of the public are surveyed, or choices made by individuals or supported by the public in local government forums are determined, to learn how various types of environmental protection have been valued. Measures used by ecologists to describe the functions and services of healthy ecosystems are also central to valuing the benefits of environmental protection. Each of these types of approach are furthered by research supported by the STAR program.

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