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  • Contingent valuation

    Introduction and definition The contingent valuation method (CVM) is a widely used method for estimating economic values for all kinds of ecosystem services and environmental goods which are not traded in …

  • Policy instruments for sustainable tourism

    Policy instruments for more sustainable tourism management are not different in essence from instruments in other fields of environmental public policy. They can be classified into economic (or market-based), regulatory …

  • Needs

    Maslow’s pyramid The notion of needs was initially developed in the field of psychology by Abraham Maslow to explain individual motivation process (Maslow, 1943). His ‘hierarchy of human needs’ consisted of …

  • Funds and stocks

    While conventional economics tries to approach natural resources through monetary means, ecological economics stresses the need to make the biogeochemical characteristics of resources explicit. This allows for a distinction between …