Methods of applying a monetary value to natural assets in environmental accounting that include (1) market valuation; (2) direct nonmarket valuation, such as assessment of the willingness to pay for environmental services (contingent valuation); and (3) indirect nonmarket valuation, for example, costing of environmental damage or of compliance with environmental standards. See also maintenance (cost) valuation, market valuation, and contingent valuation.
VALUATION OF NATURAL ASSETS
