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Broadening The Concept And Measurements Of Existence Value

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  • Loomis, John B.

Abstract

Recent efforts to refine the concept of existence value and to empirically measure it has led to an unnecessary narrowing of the concept of existence value. This paper uses the literature on public goods to argue that existence value is a much broader concept than proposed by several authors. Two commonly used but different empirical approaches to measuring existence values are compared and shown to lead to statistically different decompositions of total value between use and existence categories.

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File URL: http://purl.umn.edu/29068
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Bibliographic Info

Article provided by Northeastern Agricultural and Resource Economics Association in its journal Northeastern Journal of Agricultural and Resource Economics.

Volume (Year): 17 (1988)
Issue (Month): 1 (April)
Pages:

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Handle: RePEc:ags:nejare:29068

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Web page: http://www.narea.org/
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Keywords: Research Methods/ Statistical Methods;

References

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  1. David S. Brookshire & Larry S. Eubanks & Alan Randall, 1983. "Estimating Option Prices and Existence Values for Wildlife Resources," Land Economics, University of Wisconsin Press, vol. 59(1), pages 1-15.
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Cited by:
  1. John, Kun H. & Youn, Yeo C. & Shin, Joon H., 2003. "Resolving conflicting ecological and economic interests in the Korean DMZ: a valuation based approach," Ecological Economics, Elsevier, vol. 46(1), pages 173-179, August.
  2. Donald H. Rosenthal & Robert H. Nelson, 1992. "Why existence value should not be used in cost-benefit analysis," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 11(1), pages 116-122.
  3. Maria Loureiro & John Loomis, 2013. "International Public Preferences and Provision of Public Goods: Assessment of Passive Use Values in Large Oil Spills," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 56(4), pages 521-534, December.
  4. Halkos, George, 2012. "The use of contingent valuation in assessing marine and coastal ecosystems’ water quality: A review," MPRA Paper 42183, University Library of Munich, Germany.

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