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Using Direct Questioning To Value The Existence Benefits Of Preserved Natural Areas

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  • Jeffrey W. Bennett

Abstract

A major limitation to the effectiveness of benefit-cost analyses of proposals involving natural ecosystems is the assertion of existence demand. Not only has confusion arisen regarding its exact definition but little has been done to establish its magnitude. Existence benefits are defined and an empirical study of the value a sample of Canberra residents places on the continued provision of the existence benefits of a particular ecosystem, Nadgee Nature Reserve, is outlined. It is concluded that while the measurement technique employed, the direct questioning of respondents, may be subject to a problem of response bias, it is capable of providing a reasonable estimate of these existence benefits. The average existence value per Canberra adult is at least $20, that is $2 per annum in perpetuity given a 10 per cent real interest rate.

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File URL: http://hdl.handle.net/10.1111/j.1467-8489.1984.tb00644.x
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Bibliographic Info

Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural and Resource Economics.

Volume (Year): 28 (1984)
Issue (Month): 2-3 (08-12)
Pages: 136-152

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Handle: RePEc:bla:ajarec:v:28:y:1984:i:2-3:p:136-152

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  1. Randall, Alan & Ives, Berry & Eastman, Clyde, 1974. "Bidding games for valuation of aesthetic environmental improvements," Journal of Environmental Economics and Management, Elsevier, vol. 1(2), pages 132-149, August.
  2. Philip A. Meyer, 1979. "Publicly Vested Values for Fish and Wildlife: Criteria in Economic Welfare and Interface with the Law," Land Economics, University of Wisconsin Press, vol. 54(2), pages 223-235.
  3. Rowe, Robert D. & D'Arge, Ralph C. & Brookshire, David S., 1980. "An experiment on the economic value of visibility," Journal of Environmental Economics and Management, Elsevier, vol. 7(1), pages 1-19, March.
  4. Brookshire, David S. & Ives, Berry C. & Schulze, William D., 1976. "The valuation of aesthetic preferences," Journal of Environmental Economics and Management, Elsevier, vol. 3(4), pages 325-346, December.
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Cited by:
  1. Jette Jacobsen & Nick Hanley, 2009. "Are There Income Effects on Global Willingness to Pay for Biodiversity Conservation?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 43(2), pages 137-160, June.
  2. Tran Huu Tuan & Henrik Lindhjem, 2008. "Meta-analysis of nature conservation values in Asia & Oceania: Data heterogeneity and benefit transfer issues," EEPSEA Research Report rr2008072, Economy and Environment Program for Southeast Asia (EEPSEA), revised Jul 2008.
  3. Paulo A.L.D. Nunes & Jeroen C.J.M. van den Bergh & Peter Nijkamp, 2000. "Ecological-Economic Analysis and Valuation of Biodiversity," Tinbergen Institute Discussion Papers 00-100/3, Tinbergen Institute.
  4. Young, Ralph, 1991. "The Economic Significance of Environmental Resources: A Review of the Evidence," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(03), December.
  5. M. Common & I. Reid & R. Blamey, 1997. "Do existence values for cost benefit analysis exist?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 9(2), pages 225-238, March.
  6. Nunes, Paulo A. L. D. & van den Bergh, Jeroen C. J. M., 2001. "Economic valuation of biodiversity: sense or nonsense?," Ecological Economics, Elsevier, vol. 39(2), pages 203-222, November.

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