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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.

Suggested Citation

  • Loomis, John B., 1988. "Broadening The Concept And Measurements Of Existence Value," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 17(01), pages 1-7, April.
    • Handle: RePEc:ags:nejare:29068
    DOI: 10.22004/ag.econ.29068
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    References listed on IDEAS

    as
    1. A. Myrick Freeman III, 1985. "Supply Uncertainty, Option Price, and Option Value," Land Economics, University of Wisconsin Press, vol. 62(2), pages 176-181.
    2. Lester C. Thurow, 1971. "The Income Distribution as a Pure Public Good," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 85(2), pages 327-336.
    3. 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. Andreas Kontoleon & Timothy Swanson, 2003. "The Willingness to Pay for Property Rights for the Giant Panda: Can a Charismatic Species Be an Instrument for Nature Conservation?," Land Economics, University of Wisconsin Press, vol. 79(4), pages 483-499.
    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. 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.
    4. Fei Zhao & Min Huang, 2020. "Exploring the Non-Use Value of Important Agricultural Heritage System: Case of Lingnan Litchi Cultivation System (Zengcheng) in Guangdong, China," Sustainability, MDPI, vol. 12(9), pages 1-14, May.
    5. repec:rza:wpaper:052 is not listed on IDEAS
    6. 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.
    7. 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, Springer;European Association of Environmental and Resource Economists, vol. 56(4), pages 521-534, December.

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