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The Total Value Of Wildlife: A Case Study Involving Endangered Species

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  • Boyle, Kevin J.
  • Bishop, Richard C.

Abstract

The components of value for a wildlife resource are discussed, with emphasis on existence value. A simple model is proposed and preliminary results of an application to valuing endangered species of wildlife are presented. The empirical results indicate that significant nonuse values may be associated with endangered species of wildlife.

Suggested Citation

  • Boyle, Kevin J. & Bishop, Richard C., 1985. "The Total Value Of Wildlife: A Case Study Involving Endangered Species," 1985 Annual Meeting, August 4-7, Ames, Iowa 278711, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea85:278711
    DOI: 10.22004/ag.econ.278711
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    References listed on IDEAS

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    1. Richard G. Walsh & John B. Loomis & Richard A. Gillman, 1984. "Valuing Option, Existence, and Bequest Demands for Wilderness," Land Economics, University of Wisconsin Press, vol. 60(1), pages 14-29.
    2. V. Kerry Smith, 1984. "A Bound for Option Value," Land Economics, University of Wisconsin Press, vol. 60(3), pages 292-296.
    3. W. Michael Hanemann, 1984. "Welfare Evaluations in Contingent Valuation Experiments with Discrete Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(3), pages 332-341.
    4. Richard C. Bishop, 1982. "Option Value: An Exposition and Extension," Land Economics, University of Wisconsin Press, vol. 58(1), pages 1-15.
    5. Jon M. Conrad, 1980. "Quasi-Option Value and the Expected Value of Information," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 94(4), pages 813-820.
    6. Richard C. Bishop, 1978. "Endangered Species and Uncertainty: The Economics of a Safe Minimum Standard," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 60(1), pages 10-18.
    7. Bishop, Richard & Heberlein, Thomas A. & Welsh, Michael P. & Baumgartner, Robert M., 1984. "Does Contingent Valuation Work? Results Of The Sandhill Experiment," 1984 Annual Meeting, August 5-8, Ithaca, New York 278963, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. 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.
    9. A. Myrick Freeman III, 1985. "Supply Uncertainty, Option Price, and Option Value," Land Economics, University of Wisconsin Press, vol. 62(2), pages 176-181.
    10. A. Myrick Freeman III, 1984. "The Sign and Size of Option Value," Land Economics, University of Wisconsin Press, vol. 60(1), pages 1-13.
    11. Kenneth J. Arrow & Anthony C. Fisher, 1974. "Environmental Preservation, Uncertainty, and Irreversibility," The Quarterly Journal of Economics, Oxford University Press, vol. 88(2), pages 312-319.
    12. 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.
    13. Burton A. Weisbrod, 1964. "Collective-Consumption Services of Individual-Consumption Goods," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 78(3), pages 471-477.
    14. William G. Brown & Farid Nawas, 1973. "Impact of Aggregation on the Estimation of Outdoor Recreation Demand Functions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 55(2), pages 246-249.
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    Cited by:

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