Vol. 12 No. 3 (2022): Vol 12, Iss 3, Year 2022
Articles

An empirical review of the effect of climate change on agriculture: a contingent valuation method

Unachukwu
Department of Economics Education, School of Languages, Federal College of Education (Technical Umunze), Nigeria.
Ijeoma Blessing
Department of Economics Education, School of Languages, Federal College of Education (Technical Umunze), Nigeria.
Ojiako
Department of Economics Education, School of Languages, Federal College of Education (Technical Umunze), Nigeria.
Ndubueze basil
Department of Economics Education, School of Languages, Federal College of Education (Technical Umunze), Nigeria.
Ebere Veronica
Department of Economics Education, School of Languages, Federal College of Education (Technical Umunze), Nigeria.
Published September 30, 2022
Keywords
  • Climate Change, Agriculture, Contingent Valuation Method.
How to Cite
Unachukwu, Ijeoma Blessing, Ojiako, Ndubueze basil, & Ebere Veronica. (2022). An empirical review of the effect of climate change on agriculture: a contingent valuation method. Journal of Management and Science, 12(3), 112-115. Retrieved from https://jms.eleyon.org/index.php/jms/article/view/587

Abstract

This study is an empirical review of the effect of climate change on agriculture: a contingent valuation method. The paper relied on content analysis of extant literature. The paper viewed contingency valuation or the Contingent Valuation Method (CVM) is an economic, non-market based valuation method especially used to infer individual's preferences for public goods, notably environmental quality and more precisely it is used to place a monetary value on nonmarket goods. Available of the literature investigated suggest that there is a paucity of empirical literature in this area of study. However, findings from the empirical literature showed that climate impact negatively on agricultural production which suggests the need for proactive a mitigation and adaptation policy measures to help address the consequences of extreme events of climate change.

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