We present a model that extends the replacement cost theory to cases where benefits are restored for multiple years. Our theoretical framework derives a functional relationship between investments expenditures and environmental benefits. By extending the investment framework, we model reservoir benefits as a function of marginal changes in soil erosion.Environmental Economics and Policy,

Hansen, LeRoy T.

Hellerstein, Daniel

English

Research Papers in Economics

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VALUING MARGINAL CHANGES IN THE QUALITY OF AN ENVIRONMENTAL ASSET

VALUING MARGINAL CHANGES IN THE QUALITY OF AN ENVIRONMENTAL ASSET

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