An interesting research paper which the authors claim is a breakthrough in policy making. It is certainly not that but it might have a use and is worth looking at. The example they give of pricing water in Kansas is a good one.
But aren’t some things priceless? What price would the authors put on their kids for example? And isn’t placing priceless assets in a trading balance sheet ultimately a dangerous folly?
Lawrence Woodward
Sources:
http://www.eurekalert.org/pub_releases/2016-02/asu-pap020516.php
http://www.pnas.org/content/early/2016/02/04/1513779113
https://asunow.asu.edu/20160205-putting-price-nature-literally
