Abstract
Standard microeconomics consists in an approach to actors. This paradigm coincides with choices individual agents make and preference-related value which accompanies these choice-makings. The basic fact is that the market solves allocation tasks by providing information and incentives. Yet, it functions within the economic realm only. Environmental microeconomics, therefore, attempts to supplement market shortcomings using standard cost-benefit analysis (CBA), and situations involving irreversibility and uncertainty using extended CBA and related valuation techniques — see Table I.
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Pillet, G. (1993). Accounting for the Contribution of Environments to Economic Macroprocesses. In: Franz, A., Stahmer, C. (eds) Approaches to Environmental Accounting. Contributions to Economics. Physica, Heidelberg. https://doi.org/10.1007/978-3-642-49977-7_13
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DOI: https://doi.org/10.1007/978-3-642-49977-7_13
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