Valuation of Environmental Resources

The other school of thought prescribes the use of Baysean approach of maximizing the expected utihty in decision making under uncertainty. 

The United Nations System of National Accounts, for instance, has done httle to correct the inconsistency in its treatment of natural resources [65]. 

A World Bank-funded project in Brazil resulted in rapid deforestation in the state of Rondonia and increased the denuded area of the state from 1.7 to 16.1% during 1978-1991] [66]. 

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