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This paper presents the results of an empirical application aimed at estimating the economic value of the potential environmental impacts to mount Jaizkibel (Spain) resulting from the construction of a new seaport over its hillside. A choice experiment technique is applied for anex-ante natural resource damage assessment in monetary terms. The results revealed that, depending on the extent of the environmental damage, the social welfare loss would be between 172 and 535 million Euros per annum.
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David Hoyos (2012) studied this question.
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