This paper discusses the standard welfare economics assumption anthropocentric welfarism, i.e. that only human well-being counts intrinsically. New survey evidence from a representative sample in Sweden is presented, indicating that anthropocentrism is strongly rejected, on average. However, most people appear to have a consequentialistic ethics, in line with conventional welfare economics. The...

This paper discusses a fundamental market failure regarding environmental conservation, and how the problem can be solved by appropriate policies. A "seller" (or owner of a tropical forest) may be motivated to conserve if a "buyer" is expected to pay. The buyer, however, does not find it necessary to pay as long as the seller conserves in any case. This contradiction implies that the forest wil...

The use of contingent valuation (CV) methods to estimate benefits has become increasingly common in project analysis. Ever since the NOAA Blue Ribbon Panel Report in 1993 (NOAA, 1993) recommended the use of the referendum form of CV, it seems to have become the method of choice in practical settings. Referendum-type questions are thought to be easier to answer than the open-ended variety. But t...

The communication presents the pieces of information ecosystem services estimation four research localities transformed from an arable land to vegetation features—bosks. These bosks should dispose several ecological functions, primarily anti-erosion measures, additionally local biodiversity increase, unfavorable microclimate mitigation, shelter provision for small game, birds and insects, or wo...

Let R be a ring and V be a matrix valuation on R. It is shown that, there exists a correspondence between matrix valuations on R and some special subsets ?(MVPR) of the set of all square matrices over R, analogous to the correspondence between invariant valuation rings and abelian valuation functions on a division ring. Furthermore, based on Malcolmson’s localization, an alternative proof for t...

The valuation of the economic convenience and the …nancial sustainability of large projects requires the development of large complex models for capital budgeting purposes [Kleijnen and Van Groenendaal (1997).]. However, complex models challenge the management in the identi…cation of the key value drivers of the performance of the new project, particularly if management needs to know which, amo...

In this paper we develop a novel valuation model and methodology to value a pharmaceutical R&D project based on real options approach. The real options approach enables the possibility of optimally abandon the project before completion whenever the investment cost turns out to be larger than the expected net cash flow stream. On the other hand, the proposed model accounts for two different sour...