Valuing the Preservation of Australia's Kakadu Conservation Zone
The Australian Resource Assessment Commission conducted a large contingent valuation study to estimate the economic benefits of preserving the Kakadu Conservation Zone by incorporating it into Kakadu National Park rather than allowing mining in it. Different subsamples were presented, with scenarios representing the environmentalist (major) and mining industry (minor) views of the impacts. Willingness to pay to prevent the major impact scenario was twice as high as for the minor impact scenario. For both scenarios, benefit-cost analysis indicates that preservation should be chosen over mining. A valuation function to predict the willingness to pay responses is estimated. Copyright 1994 by Royal Economic Society.
Volume (Year): 46 (1994)
Issue (Month): 0 (Supplement Oct.)
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