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Non Market Valuation in New Zealand:1974 through 2005

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Abstract

Non-market valuation (NMV) is recognized as an essential tool in policy decision making worldwide. In this paper, we investigate the history of NMV, specifically in relation to New Zealand (NZ), by compiling and analyzing all available published studies. Results show a significant increase in the number of studies, specifically those requested by government agencies, following the passage of the NZ Resource Management Act of 1991. Studies were found to be concentrated in three major areas: outdoor recreation, environmental conservation/management, and travel time savings. These three areas covered eight environmental commodities, the value of which totaled NZ$72 billion, or 50% of NZ GDP, with the highest valued commodity being biodiversity services. While our analysis yielded many positive results, we did discover, however, a severe lack of studies in many areas including pest control, water resources and outdoor recreation.

Suggested Citation

  • Richard Yao & Pamela Kaval, 2007. "Non Market Valuation in New Zealand:1974 through 2005," Working Papers in Economics 07/17, University of Waikato.
    • Handle: RePEc:wai:econwp:07/17
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    File URL: https://repec.its.waikato.ac.nz/wai/econwp/0717.pdf
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    Cited by:

    1. Kerr, Geoffrey N. & Abell, Walter L., 2014. "What’s your game? Heterogeneity amongst New Zealand hunters," 2014 Conference, August 28-29, 2014, Nelson, New Zealand 187501, New Zealand Agricultural and Resource Economics Society.
    2. Kim, Ju-Yeon & Mjelde, James W. & Kim, Tae-Kyun & Lee, Choong-Ki & Ahn, Kyung-Mo, 2012. "Comparing willingness-to-pay between residents and non-residents when correcting hypothetical bias: Case of endangered spotted seal in South Korea," Ecological Economics, Elsevier, vol. 78(C), pages 123-131.
    3. Pamela Kaval & Matthew Roskruge, 2009. "The Value of Native Bird Conservation: A New Zealand Case Study," Working Papers in Economics 09/11, University of Waikato.

    More about this item

    Keywords

    non-market valuation; New Zealand; consumer surplus; Resource Management Act;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources

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