How do resource economists classify different types of values? What are some of the techniques used by resource economists to estimates nonmarket values? What are the advantages and disadvantages of each? How do economists value future costs and benefits? Is a high or low discount rate inherently better for environmental protection? What is a social discount rate and how is it calculated? What is the difference between risk and uncertainty? How do economists calculate an expected value? What is the problem with using expected values in cases where people are risk adverse? What is the precautionary principle? What is a safe minimum standard? What is a benefit/cost ratio? What is the positive net present value criterion? What are some of the limitations of cost-benefit analysis? What is cost-effectiveness analysis? How does it differ from cost-benefit analysis?