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Economic Valuation of the Non-use Attributes of a Wetland: A Case-study for Lake Kerkini

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  • David Oglethorpe
  • Despina Miliadou

Abstract

Wetlands are an environmental feature which deliver a variety of market and non-market goods and services. Established environmental economic theory separates the value of these goods and services into direct-use values, indirect-use values and non-use values. Given appreciation of all three, measurements can be derived to demonstrate the amount of public money that it may be feasible to allocate to the sustainable management of wetlands. However, in many cases, non-use values are ignored and the total economic value of wetlands can be severely undervalued. As a result, inadequate resources are fed into their management and environmental degradation occurs due to inappropriate commercial exploitation of the natural resource. Lake Kerkini, in northern Greece, is one such wetland area threatened by undervaluation and overexploitation for commercial purposes, and a resource whose management would benefit from the realization of non-use values. This study therefore uses the contingent valuation method to place a value on the non-use attributes of Lake Kerkini. It also examines the relationship between the revealed non-use values and the distance people live from the lake, highlights the personal characteristics which appear important in determining total willingness to pay and breaks total non-use value down into its component parts to suggest the most important non-use elements. The paper concludes that sustainable management of the lake is justified and provides evidence that substantial public monies are potentially available to protect and enhance the environmental value of the resource.

Suggested Citation

  • David Oglethorpe & Despina Miliadou, 2000. "Economic Valuation of the Non-use Attributes of a Wetland: A Case-study for Lake Kerkini," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 43(6), pages 755-767.
  • Handle: RePEc:taf:jenpmg:v:43:y:2000:i:6:p:755-767
    DOI: 10.1080/09640560020001665
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    Citations

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    Cited by:

    1. Halkos, George E. & Jones, Nikoleta, 2012. "Modeling the effect of social factors on improving biodiversity protection," Ecological Economics, Elsevier, vol. 78(C), pages 90-99.
    2. Bandara, Ranjith & Tisdell, Clement A., 2003. "Use and non-use values of wild Asian elephants: A total economic valuation approach," Economics, Ecology and Environment Working Papers 48961, University of Queensland, School of Economics.
    3. Birol, Ekin & Karousakis, Katia & Koundouri, Phoebe, 2006. "Using a choice experiment to account for preference heterogeneity in wetland attributes: The case of Cheimaditida wetland in Greece," Ecological Economics, Elsevier, vol. 60(1), pages 145-156, November.
    4. Andrea Ghermandi & Jeroen C.J.M. van den Bergh & Luke M. Brander & Henri L.F. de Groot & Paulo A.L.D. Nunes, 2009. "The Values of Natural and Constructed Wetlands: A Meta-Analysis," Tinbergen Institute Discussion Papers 09-080/3, Tinbergen Institute.
    5. Ming, Jiang & Xian-guo, Lu & Lin-shu, Xu & Li-juan, Chu & Shouzheng, Tong, 2007. "Flood mitigation benefit of wetland soil -- A case study in Momoge National Nature Reserve in China," Ecological Economics, Elsevier, vol. 61(2-3), pages 217-223, March.
    6. Jones, Nikoleta & Sophoulis, Costas M. & Malesios, Chrisovaladis, 2008. "Economic valuation of coastal water quality and protest responses: A case study in Mitilini, Greece," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(6), pages 2478-2491, December.
    7. Ndebele, Tom & Forgie, Vicky, 2017. "Estimating the economic benefits of a wetland restoration programme in New Zealand: A contingent valuation approach," Economic Analysis and Policy, Elsevier, vol. 55(C), pages 75-89.
    8. Halkos, George, 2012. "Assessing the economic value of protecting artificial lakes," MPRA Paper 39557, University Library of Munich, Germany.
    9. Luke Brander & Andrea Ghermandi & Onno Kuik & Anil Markandya & Paulo A.L.D. Nunes & Marije Schaafsma & Alfred Wagtendonk, 2010. "Scaling up Ecosystem Services Values: Methodology, Applicability and a Case Study," Working Papers 2010.41, Fondazione Eni Enrico Mattei.
    10. Carlsson, Fredrik & Frykblom, Peter & Liljenstolpe, Carolina, 2003. "Valuing wetland attributes: an application of choice experiments," Ecological Economics, Elsevier, vol. 47(1), pages 95-103, November.
    11. Halkos, George & Jones, Nikoleta, 2011. "Social factors influencing the decision to pay for the protection of biodiversity: A case study in two national parks of Northern Greece," MPRA Paper 34581, University Library of Munich, Germany.

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