A theory of customary international law -- Case studies -- A theory of international agreements -- Human rights -- International trade -- A theory of international rhetoric -- International law and moral obligation -- Liberal democracy and cosmopolitan duty.

Contingent valuation of people's willingness to pay has rapidly become the method of choice to value all manner of environmental damages. The correct measure is, however, the sum people require to compensate them for such losses, an amount which will normally be far larger than their willingness to pay. And on present evidence, responses to contingent valuation questions are not likely to represent any measure of economic values. The results of these valuation practices will, therefore, bias environmental policies and distort (...) incentives. (shrink)

This is a new release of the original 1924 edition.