Environmental Policy Analysis for Decision Making-Free-Sample

Questions: 1.Explain why the values might be different and which gives rise to the larger Environmental Values. 2.Discount rates can influence the outcome from a benefit Cost analysis. Should a high or low discount rate be used if you are considering a policy that will produce benefits over multiple generation. Answers: 1.There are several methods which are used to study and compare the non-market value of the goods. Out of them the two popular methods are the contingent valuation method, which is popularly known as the CVM method and the other method is the choice modeling. Both of these models are required to check and see the changing environmental aspects around and hence take proper decisions regarding them. Under the CVM method (i.e. the contingent valuation method) the respondents or the consumers are asked for the maximum willingness to pay for the increase and decrease in the quality of the environment around them. The people or the respondents can also be asked or considered having the minimum willingness to accept the compensation for the quality of the environment they live in or dwell in around them. The contingent valuation method is used by a number of people and is used for estimating the value of wide variety of environmental issues and arriving at various estimates. However the contingent method is criticized by a lot of people as it does not help in arriving at the correct estimates about the value of the environmental quality. The next is the choice modeling which is also known as the CM modal and this modal helps in surveying the complex value of the environmental quality. There are various bundles of choice, the values of all differ at various levels and all have different attributes. It is considered as a superior model over the other environmental valuation models(Ritchei Lewis 2013). In this modal rather than maximizing the choices the respondents are made to feel satisfied by the valuation methods. The best choice is seen and it is worked upon so that the consumer or the respondent feels fully satisfied by the choice of the valuation policy. The difference between them is that the CVM method was to estimate and see the maximum willingness to pay by the respondent whereas in the CM method the willingness to accept is seen by the respondents. The respondents are given the choice to accept the program as it is and then pay for the amount which is required or to decline the valuation policy so offered. Hence of the above mentioned grounds the CVM and the CM modals can be differentiated. 2.It is an important thing to know in todays scenario and to decipher that how much of the money one should put in or how much worth it is to put in the world to avoid the disruption of the climate. It is essential to derive at the amount and to value how much the current generation should invest so that the generations to come do not feel the pangs or the problems related to environmental concern. The economists have said that to meet the demand of the future generations and so that they do not feel devoid of any resources one should or the community should discount their todays use. They should use the minimum resources and save them wherever possible. This is known as discounting the resources or discounting or reducing the current consumption so as to meet the future needs. Now, the policies should be made which lead to reducing the current resources and reducing the depletion of the goods in the todays scenario(Loomis Helfand 2006). The generation of today should find alternative uses to the resources which cannot be renewed and hence save the resources for future generations. Discounting the use of resources today, using less of resources which cannot be renewed, and finding alternative methods will help in successful leading a good and happy environment for future generations. The people on the earth use various appliances and things which lead to excess of carbon emissions. The emissions of carbon lead to pollution and hampering the environment which ultimately lead to global warming and increasing the level of pollution. If the policies are formed and implemented which would lead to discounting the current usage of the goods, it will eventually lead to less use of appliances that emit carbon dioxide and hence the emissions and the level of carbon dioxide will decrease in the environment and hence will save the earth from being hampered by the people of the current generations. Hence, if the policies are implemented which will lead to discounting the use of todays resources so as to save the environment for the future generation, it will be a good move to save the environment and hence would have a number of good effects on the earth and human life. Bibliography Loomis, J Helfand, G 2006, Environmental Policy Analysis for Decision Making - Page 157, Wiley Publications, London. Ritchei, J Lewis, J 2013, Qualitative Research Practice: A Guide for Social Science Students, 4th edn, Springer 2013, New York.