In complex natural resource systems, modifications or disruptions tend to affect many and diverse components of the ecological system, settlements and groups of people. This book uses the Lagoon of Venice - a unique natural resource, wildlife habitat, centre of cultural heritage and recreational site - as an example of one such system that has been heavily affected by human activities, including the harvesting of natural resources and industrial production. The contributors explore the Lagoon's potential for regeneration, examining public policies currently under consideration. The aim of these policies is to restore island coastlines and marshes, fish stocks, habitat and environmental quality, defend morphology and landscape through the strict control of fishing practices, and to protect the islands from high tides.

Various market and non-market approaches placing a monetary value on environmental quality changes are then analysed by the contributors. They offer novel and creative applications of non-market valuation techniques for the Lagoon, and even outline the trade-offs that Lagoon users and parties interested in redeveloping contaminated sites are prepared to make between their own profits and policy offerings or demands.

This unique and fascinating book will strongly appeal to students, researchers and academics with an interest in natural resources valuation and management, environmental economics and applied benefit-cost analysis.