Environmental Economics for Integrated Coastal Area Management: Valuation Method and Policy Instruments - UNEP Regional Seas Reports and Studies No. 164

This document attempts to contribute to the emerging literature on integrated coastal area management (ICAM) by examining non-market valuation methods and policy instruments, emphasizing applications. We view market failure in the form of externalities, public goods, and insecure property rights as major contributors to coastal area management problems. In fact, the existence of widespread externalities is perhaps a central argument for integrated coastal area management as compared with single-sector management.