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The Economic Significance of Environmental Resources: A Review of the Evidence

  • Young, Ralph
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    This paper reviews briefly the approaches employed for generating value estimates for unpriced environmental resources, with particular attention being paid to the contingent valuation method. Estimates of value for environmental products and services for both the United States and Australia are presented. This evidence clearly demonstrates that a wide range of unpriced environmental resources have significant economic value to the community. The paper concludes with a discussion of the implications for project development, funding and policy in Australia.

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    File URL: http://purl.umn.edu/12392
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    Article provided by Australian Agricultural and Resource Economics Society in its journal Review of Marketing and Agricultural Economics.

    Volume (Year): 59 (1991)
    Issue (Month): 03 (December)
    Pages:

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    Handle: RePEc:ags:remaae:12392
    Contact details of provider: Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200
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    1. Keith, John E. & Lyon, Kenneth S., 1985. "Valuing Wildlife Management: A Utah Deer Herd," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 10(02), December.
    2. Kevin J. Boyle & Richard C. Bishop & Michael P. Welsh, 1985. "Starting Point Bias in Contingent Valuation Bidding Games," Land Economics, University of Wisconsin Press, vol. 62(2), pages 188-194.
    3. David A. King & J. A. Sinden, 1988. "Influence of Soil Conservation on Farm Land Values," Land Economics, University of Wisconsin Press, vol. 64(3), pages 242-255.
    4. Richard G. Walsh & John B. Loomis & Richard A. Gillman, 1983. "Valuing Option, Existence, and Bequest Demands for Wilderness," Land Economics, University of Wisconsin Press, vol. 59(4), pages 14-29.
    5. Randall, Alan, 1982. "Economic Surplus Concepts and Their Use in Benefit Cost Analysis," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 50(02), August.
    6. A. Myrick Freeman III, 1983. "The Sign and Size of Option Value," Land Economics, University of Wisconsin Press, vol. 59(4), pages 1-13.
    7. Ronald J. Sutherland & Richard G. Walsh, 1985. "Effect of Distance on the Preservation Value of Water Quality," Land Economics, University of Wisconsin Press, vol. 64(3), pages 281-291.
    8. Knetsch, Jack L & Sinden, J A, 1987. "The Persistence of Evaluation Disparities," The Quarterly Journal of Economics, MIT Press, vol. 102(3), pages 691-95, August.
    9. Greig, P.J. & Devonshire, P.G., 1981. "Tree Removals And Saline Seepage In Victorian Catchments: Some Hydrologic And Economic Results," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 25(02), August.
    10. Coelli, Tim J. & Lloyd-Smith, J. & Morrison, D. & Thomas, J., 1991. "Hedonic Pricing For A Cost Benefit Analysis Of A Public Water Supply Scheme," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 35(01), April.
    11. Bennett, Jeffrey W., 1984. "Using Direct Questioning To Value The Existence Benefits Of Preserved Natural Areas," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 28(02-03).
    12. Hoehn, John P. & Randall, Alan, 1987. "A satisfactory benefit cost indicator from contingent valuation," Journal of Environmental Economics and Management, Elsevier, vol. 14(3), pages 226-247, September.
    13. Karl C. Samples & John A. Dixon & KMarcia M. Gowen, 1986. "Information Disclosure and Endangered Species Valuation," Land Economics, University of Wisconsin Press, vol. 62(3), pages 306-312.
    14. Greenley, Douglas A & Walsh, Richard G & Young, Robert A, 1981. "Option Value: Empirical Evidence from a Case Study of Recreation and Water Quality," The Quarterly Journal of Economics, MIT Press, vol. 96(4), pages 657-73, November.
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