Valuing the Environment for Public Policies 6 Euston Quah and Tsiat Siong Tan Contents The Need to Value the Environment ............................................................ 154 Total Economic Value ........................................................................... 155 Methods of Valuation ............................................................................ 157 Nondemand Curve Approaches ............................................................. 158 Demand Curve Approaches ................................................................. 161 Other Approaches ............................................................................ 171 Conclusion ................................................................................... 177 References ....................................................................................... 182 Abstract The provision of environmental goods and services often requires public inter- vention. In adopting the appropriate public policies, one begins with weighing society’ s degree of preference for the environment vis-à-vis other goods and services by attributing monetary values to the nonmarket goods. The value measure serves to inform policy making and thereby justify the allocation of limited resources among competing uses. This chapter provides an overview of economic valuation methods for environmental goods with examples of policy applications. Valuation methods include demand and nondemand curve approaches, including the dose-response method, contingent valuation method, This paper is an extension of Quah and Tan (2020). E. Quah (*) Nanyang Technological University, Singapore, Singapore e-mail: ecsquahe@ntu.edu.sg T. S. Tan Singapore University of Social Sciences, Singapore, Singapore e-mail: tstan@suss.edu.sg © Springer Nature Singapore Pte Ltd. 2021 E. Quah, R. Schubert (eds.), Sustainability and Environmental Decision Making, Sustainable Development, https://doi.org/10.1007/978-981-15-9287-4_1 153