IDEAS home Printed from https://ideas.repec.org/p/ags/uqseee/55104.html
   My bibliography  Save this paper

Valuing the Otago Peninsula: The Economic Benefits of Conservation

Author

Listed:
  • Tisdell, Clement A.

Abstract

It is suggested that valuing objects is a distinctive human trait. It is a prerequisite for rational behaviour. Factors that are likely to influence valuations, the difficulties of getting agreements about valuations and the limited perspective of economics as a basis for valuation are discussed generally. Attributes of Otago Peninsula that seem to be valuable and worth conserving are listed and discuss taking into account possible conflicts in getting maximum value from these attributes. Particular attention is given to the economic value of conserving wildlife species on the Otago Peninsula. It is estimated that as a result of the presence of these species and their use for tourism, expenditure of over $100 million annually is generated in the Dunedin regional economy (directly or indirectly) and that 800-1000 full-time equivalent jobs are created. The economic opportunity cost of this wildlife conservation on the Peninsula is low and it is clear that the economic benefits from this conservation are well in excess of the costs involved. When non-use economic values and the social values associated with Otago Peninsula are taken into account, this further adds to the value of conserving this wildlife. While there has been remarkable expansion in wildlife tourism on the Otago Peninsula and its economic impact in the Dunedin region in the last two decades, (especially in the viewing of yellow-eyed penguins) difficulties and constraints are emerging that are likely to hamper its future expansion. However, wildlife tourism on the Otago Peninsula will still have a huge economic impact on Dunedin regional economy. Consequently, even if assessed solely in terms of their economic value, the wildlife attractions of the Otago Peninsula are well worth conserving. It can be argued however, that the value of conserving biodiversity on the Peninsula exceeds its touristic and its economic value. Some conservation organizations (such as the Yellow-eyed Penguin Trust) even though not directly involved in tourism add to its economic value as well as its social value and promote the highly desired goal of conserving biodiversity.

Suggested Citation

  • Tisdell, Clement A., 2007. "Valuing the Otago Peninsula: The Economic Benefits of Conservation," Economics, Ecology and Environment Working Papers 55104, University of Queensland, School of Economics.
  • Handle: RePEc:ags:uqseee:55104
    DOI: 10.22004/ag.econ.55104
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/55104/files/WP145.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.55104?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Clem Tisdell, 2007. "Knowledge and the valuation of public goods and experiential commodities: information provision and acquisition," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 9(2/3), pages 170-182.
    2. Clem Tisdell, 1996. "Bounded Rationality and Economic Evolution," Books, Edward Elgar Publishing, number 960.
    3. Tisdell, Clement A., 2007. "The Economic Importance of Wildlife Conservation on the Otago Peninsula - 20 years on," Economics, Ecology and Environment Working Papers 55103, University of Queensland, School of Economics.
    4. Tisdell, Clem & Wilson, Clevo & Swarna Nantha, Hemanath, 2008. "Contingent valuation as a dynamic process," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(4), pages 1443-1458, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tisdell, Clement A., 2007. "The Economic Importance of Wildlife Conservation on the Otago Peninsula - 20 years on," Economics, Ecology and Environment Working Papers 55103, University of Queensland, School of Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Clem Tisdell & Clevo Wilson, 2012. "Nature-based Tourism and Conservation," Books, Edward Elgar Publishing, number 13773.
    2. Clement Allan Tisdell & Serge Svizzero, 2016. "Different Behavioral Explanations of the Neolithic Transition from Foraging to Agriculture: A Review," Working Papers hal-02147758, HAL.
    3. Tisdell, Clement A., 2012. "Ecotourism Experiences Promoting Conservation and Changing Economic Values: The Case of Mon Repos Turtles," Economics, Ecology and Environment Working Papers 125209, University of Queensland, School of Economics.
    4. Tisdell, Clem, 2014. "Information Technology's Impacts on Productivity, Welfare and Social Change: Second Version," Economic Theory, Applications and Issues Working Papers 195701, University of Queensland, School of Economics.
    5. Serge Svizzero & Clem Tisdell, 2014. "Theories About the Commencement of Agriculture in Prehistoric Societies: A Critical Evaluation," Rivista di storia economica, Società editrice il Mulino, issue 3, pages 255-280.
    6. Lasselle, Laurence & Svizzero, Serge & Tisdell, Clem, 2005. "Stability And Cycles In A Cobweb Model With Heterogeneous Expectations," Macroeconomic Dynamics, Cambridge University Press, vol. 9(5), pages 630-650, November.
    7. Jeroen van den Bergh & John Gowdy, 2000. "Evolutionary Theories in Environmental and Resource Economics: Approaches and Applications," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 17(1), pages 37-57, September.
    8. Svizzero, Serge & Tisdell, Clem, 2014. "Inequality and Wealth Creation in Ancient History: Malthus' Theory Reconsidered," Economic Theory, Applications and Issues Working Papers 183285, University of Queensland, School of Economics.
    9. Serge Svizzero & Clement Allan Tisdell, 2015. "The Role of Palatial Economic Organization in Creating Wealth in Minoan and Mycenaean States," Working Papers hal-02150102, HAL.
    10. Clem Tisdell, 2009. "Economic Reform and Openness in China: China’s Development Policies in the Last 30 Years," Economic Analysis and Policy, Elsevier, vol. 39(2), pages 271-294, September.
    11. Clement A. Tisdell, 2017. "Bounded Rationality, Satisficing and the Evolution of Economic Thought," Economic Theory, Applications and Issues Working Papers 264873, University of Queensland, School of Economics.
    12. ., 2013. "Concepts of economic competition and performance in context," Chapters, in: Competition, Diversity and Economic Performance, chapter 2, pages 20-47, Edward Elgar Publishing.
    13. Svizzero, Serge & Tisdell, Clement, 2019. "Barter and the Origin of Money and Some Insights from the Ancient Palatial Economies of Mesopotamia and Egypt," Economic Theory, Applications and Issues Working Papers 291788, University of Queensland, School of Economics.
    14. Clement A. Tisdell, 2013. "Competition, Diversity and Economic Performance," Books, Edward Elgar Publishing, number 13026.
    15. Clement Allan Tisdell & Serge Svizzero, 2015. "Rent Extraction, Population Growth and Economic Development: Development Despite Malthus’ Theory and Precursors to the Industrial Revolution," Working Papers hal-02150103, HAL.
    16. Tisdell, Clement A., 2008. "Economics, Corporate Sustainability and Social Responsibility," Economic Theory, Applications and Issues Working Papers 90618, University of Queensland, School of Economics.
    17. Tisdell, Clement A. & Svizzero, Serge, 2019. "Economic Theory, Phoenician Pre-coinage External Trade, Changes in the Economic Surplus and its Appropriation - An Initial Perspective," Economic Theory, Applications and Issues Working Papers 291441, University of Queensland, School of Economics.
    18. Nomsa Phindile Nkosi & Johane Dikgang, 2021. "South African Attitudes About Nuclear Power: The Case of the Nuclear Energy Expansion," International Journal of Energy Economics and Policy, Econjournals, vol. 11(5), pages 138-146.
    19. Tisdell, Clement A., 2010. "The Excitement and Value of Discovering Tourism Economics: Clem Tisdell's Journey," Economic Theory, Applications and Issues Working Papers 90631, University of Queensland, School of Economics.
    20. ., 2013. "Reasons for business diversity and their economic importance," Chapters, in: Competition, Diversity and Economic Performance, chapter 5, pages 83-108, Edward Elgar Publishing.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:uqseee:55104. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/decuqau.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.