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Valuation Issues for EC4MAC

This publication addresses valuation issues in environmental economics focusing on health impacts (mortality and morbidity), agricultural impacts, biodiversity, and policy-related valuation. It explores varying valuations across Europe and beyond, updating on ongoing projects and modeling approaches.

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Valuation Issues for EC4MAC

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  1. Valuation Issues for EC4MAC Anil Markandya Metroeconomica

  2. Issues to be addressed • Health impacts: mortality and morbidity • Agricultural impacts • Policy related valuation • Biodiversity • Overall approach.

  3. Health Impacts: Mortality • Valuation of premature mortality for children (VERHI-Children project). • Variations in valuation across the extended EU and Europe. • Different valuations for countries outside Europe (esp. developing countries). • Different valuations for different impacts? • Ongoing projects HEIMTSA will address some of these.

  4. Health Impacts: Morbidity • Updates based on valuations of endpoints based on European data and not US data. • Variations in valuation across the extended EU and Europe. • Different valuations for countries outside Europe (esp. developing countries). • Different valuations for different impacts? • Ongoing projects HEIMTSA will also address some of these.

  5. Agriculture • Valuations of productivity changes caused by air pollution to include: • General equilibrium effects via changes in prices. • Changes in shadow prices resulting from opening of trade and reductions in subsidies. • Update on environmental costs of different agricultural practices (ongoing studies). • AG2020 will look at some of these issues in a CGE modeling context. • Other models will also provide data on structural changes.

  6. Biodiversity • New work ongoing on valuing loss of species and damages to ecosystems. (e.g. EXIOPOL, SESAME). • Valuation of physical indicators via links to endpoints (e.g. eutrophication indicators and valuation studies related to eutrophication) (Thresholds project).

  7. Valuation related to Policy • Sectoral social costs of unemployment and possible competitiveness effects versus benefits of reduced pollution. • Valuation of trade impacts that reduce pollution in A versus increasing it in B. • Similarly for CC policies that shift emissions from A to B. • Valuation of risk aversion associated with impacts that have a small probability but a large consequence.

  8. Approach • To keep abreast of developments in the valuation literature in Europe and abroad. • To prepare updates for the valuation of endpoints that are in the other models of the program. • To integrate environmental costs assessments with other cost assessments. • To recognize the dynamic nature of the valuations undertaken.

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