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Benefits Of Preserving Old-Growth Forests And The Spotted Owl

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  • DANIEL A. HAQEN
  • JAMES W. VINCENT
  • PATRICK G. WELLE
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    Abstract

    This paper presents results from a national contingent-valuation study of the economic benefits of preserving old-growth forests in the Pacific Northwest. The study elicits "market-like" valuation responses from U.S. households concerning the benefits of a conservation policy for the northern spotted owl. These data provide a basis for estimating the benefits of preservation in terms of average household willingness to pay. Existing cost estimates are used to compute threshold prices that the benefits of the policy must exceed for the policy to be efficient. Benefit/cost ratios are calculated using "best" and "lower-bound" estimates of the benefits of preservation. Under all combinations of assumptions, the estimated benefits exceed the costs of the conservation policy. Copyright 1992 Western Economic Association International.

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    Bibliographic Info

    Article provided by Western Economic Association International in its journal Contemporary Economic Policy.

    Volume (Year): 10 (1992)
    Issue (Month): 2 (04)
    Pages: 13-26

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    Handle: RePEc:bla:coecpo:v:10:y:1992:i:2:p:13-26

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    Cited by:
    1. Rose, Steven K. & Chapman, Duane, 2003. "Timber harvest adjacency economies, hunting, species protection, and old growth value: seeking the dynamic optimum," Ecological Economics, Elsevier, vol. 44(2-3), pages 325-344, March.
    2. Kniivilä, Matleena & Ovaskainen, Ville & Saastamoinen, Olli & Kniivilä, Matleena, 2002. "Costs and benefits of forest conservation: regional and local comparisons in Eastern Finland," Journal of Forest Economics, Elsevier, vol. 8(2), pages 131-150.
    3. Göran Bostedt, 1999. "Threatened Species as Public Goods and Public Bads," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 13(1), pages 59-73, January.
    4. Richard Yao & Pamela Kaval, 2008. "Valuing Biodiversity Enhancement in New Zealand," Working Papers in Economics 08/07, University of Waikato, Department of Economics.
    5. Grijalva, Therese & Berrens, Robert P. & Shaw, W. Douglass, 2011. "Species preservation versus development: An experimental investigation under uncertainty," Ecological Economics, Elsevier, vol. 70(5), pages 995-1005, March.
    6. Daniel McKenney, 1998. "Resource Economists Should Do More Cost Analysis and Less Benefit Analysis," Working Papers in Ecological Economics 9801, Australian National University, Centre for Resource and Environmental Studies, Ecological Economics Program.
    7. Kristin Jakobsson & Andrew Dragun, 2001. "The Worth of a Possum: Valuing Species with the Contingent Valuation Method," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 19(3), pages 211-227, July.
    8. Jin, Jianjun & Wang, Zhishi & Liu, Xuemin, 2008. "Valuing black-faced spoonbill conservation in Macao: A policy and contingent valuation study," Ecological Economics, Elsevier, vol. 68(1-2), pages 328-335, December.
    9. Loomis, John B. & White, Douglas S., 1996. "Economic benefits of rare and endangered species: summary and meta-analysis," Ecological Economics, Elsevier, vol. 18(3), pages 197-206, September.
    10. Khajuria, Rajendra Prasad & Laaksonen-Craig, Susanna & Kant, Shashi, 2008. "A marginal cost analysis of trade-offs in old-growth preservation in Ontario," Forest Policy and Economics, Elsevier, vol. 10(5), pages 326-335, April.
    11. Howarth, Richard B. & Farber, Stephen, 2002. "Accounting for the value of ecosystem services," Ecological Economics, Elsevier, vol. 41(3), pages 421-429, June.
    12. Baerenklau, Kenneth A. & González-Cabán, Armando & Paez, Catrina & Chavez, Edgar, 2010. "Spatial allocation of forest recreation value," Journal of Forest Economics, Elsevier, vol. 16(2), pages 113-126, April.
    13. Moore, Christopher C. & Holmes, Thomas P. & Bell, Kathleen P., 2011. "An attribute-based approach to contingent valuation of forest protection programs," Journal of Forest Economics, Elsevier, vol. 17(1), pages 35-52, January.
    14. Brouwer, Roy & van Beukering, Pieter & Sultanian, Elena, 2008. "The impact of the bird flu on public willingness to pay for the protection of migratory birds," Ecological Economics, Elsevier, vol. 64(3), pages 575-585, January.
    15. Richardson, Leslie & Loomis, John, 2009. "The total economic value of threatened, endangered and rare species: An updated meta-analysis," Ecological Economics, Elsevier, vol. 68(5), pages 1535-1548, March.

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