Australasian environmental economics: contributions, conflicts and ‘cop-outs’
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Australian and New Zealand environmental economists have played a significant role in
the development of concepts and their application across three fields within their subdiscipline:
non-market valuation, institutional economics and bioeconomic modelling.
These contributions have been spurred on by debates within and outside the discipline.
Much of the controversy has centred on the validity of valuations generated through
the application of stated preference methods such as contingent valuation. Suggestions
to overcome some shortcomings in the work of environmental economists include the
commissioning of a sequence of non-market valuation studies to fill existing gaps to
improve the potential for benefit transfer.