All of this highlights the desirability of a framework that will identify priorities for improved environmental accounting. This paper derives such a framework by exploring the determinants of the value of information in a corporate decision-making context. The paper proceeds as follows. The next section defines environmental accounting and the meaning of "improved" information, and discusses the costs associated with those improvements. Section 3 describes the economic value of information in general terms. Section 4 applies the value of information framework to a model of production process decision-making and Section 5 discusses applications in the capital budgeting context. Section 6.
