1. Valuation methods and policy making in environmental economics: relevance and scope (H. Folmer, E. van Ierland). Part I. The Valuation of Public Goods. 2. Non-market asset prices: a comparison of three valuation approaches (R.C. d'Arge, J.F. Shogren). 3. Valuing public goods in a risky world: an experiment (P.-O. Johansson). 4. Recreational values, pareto optimality and timber supply (P.-O. Johansson, K.-G. Lofgren, K.-G. Maler). 5. Estimating social benefits of environmental improvements from reduced acid rain deposition: a contingent valuation survey (S. Navrud). Part II. The Valuation of Health and Life. 6. Benefits of reduced morbidity from air pollution control: a survey (M. Dickie, S. Gerking). 7. Valuing a public good: direct and indirect valuation approaches to the measurement of the benefits from air pollution abatement (M. Shechter, M. Kim, L. Golan). 8. Environmental regulation and the valuation of life: interindustry mobility and the market price of safety (H.W. Herzog Jr., A.M. Schlottmann). Part III. Cost Benefit Analysis. 9. Disequilibrium cost benefit rules: an exposition and extension (P.-O. Johansson, K.-G. Lofgren). 10. Macroeconomic cost benefit analysis of environmental programmes (A. Nentjes). Part IV. Aspects of Policy Making. 11. Benefit estimation for complex policies (A. Randall, J. Hoehn). 12. The acid rain game (K.-G. Maler). Index.