Braucht die Deutsche Umweltpolitik einen Exxon Valdez Tankerunfall?

Environmental resources are limited and therefore policy‐makers have to determine the best allocation of resources amongst competing alternative uses. The question arises of which criteria environmental policy decisions ought to be based. This paper suggests economics to help solve environmental problems. This economic approach requires the monetary valuation both of benefits of protecting or enhancing environmental resources and opportunity costs or benefits forgone of alternative uses. Whereas the monetary valuation of costs is not too complicated and therefore not controversial in most cases, the monetary assessment of environment‐based benefits requires the application of non‐market valuation tools. The comparison of monetary costs and benefits contributes to deciding upon environmental trade‐off alternatives. The authors discuss the potential use and problems associated with non‐market valuation as a tool for environmental policy‐consulting. Not only are alternative approaches to natural resource assessment discussed but also the lack of acceptance of monetary environmental valuation techniques in the German‐speaking world.