IDEAS home Printed from https://ideas.repec.org/p/ags/umaesp/13878.html

What Is A Wetland Worth? Concepts And Issues In Economic Valuation

Author

Listed:
  • Taff, Steven J.

Abstract

A wetland has no economic value in and of itself. Nor does it have a unique value, irrespective of context. Economic value is ascribed to a wetland by humans operating at a confluence of individual preferences, property rights, technological opportunities, and available resources. Such values are not generally reflected in market prices, a deficiency that can nonetheless addressed by competent economic analysis, using a variety of empirical techniques. The task is complicated by scientific information shortfalls, by ever-changing technologies and economies, and by evolving societal preferences--but it can be done. Economic valuations have been used in wetland priority rankings and in comparative investment analyses.

Suggested Citation

  • Taff, Steven J., 1992. "What Is A Wetland Worth? Concepts And Issues In Economic Valuation," Staff Papers 13878, University of Minnesota, Department of Applied Economics.
    • Handle: RePEc:ags:umaesp:13878
    DOI: 10.22004/ag.econ.13878
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/13878/files/p92-01.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.13878?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Lupi, Frank & Graham-Tomasi, Theodore & Taff, Steven J., 1991. "A Hedonic Approach To Urban Wetland Valuation," Staff Papers 13284, University of Minnesota, Department of Applied Economics.
    2. Heimlich, Ralph E., 1991. "A National Policy of "No Net Loss" of Wetlands: What Do Agricultural Economists Have to Contribute?," Staff Reports 278596, United States Department of Agriculture, Economic Research Service.
    3. John P. Hoehn, 1991. "Valuing the Multidimensional Impacts of Environmental Policy: Theory and Methods," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(2), pages 289-299.
    4. Costanza, Robert & Farber, Stephen C. & Maxwell, Judith, 1989. "Valuation and management of wetland ecosystems," Ecological Economics, Elsevier, vol. 1(4), pages 335-361, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Oliver Fromm, 2000. "Ecological Structure and Functions of Biodiversity as Elements of Its Total Economic Value," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 16(3), pages 303-328, July.
    2. Chilton, S. M. & Hutchinson, W. G., 2000. "A note on the warm glow of giving and scope sensitivity in contingent valuation studies," Journal of Economic Psychology, Elsevier, vol. 21(4), pages 343-349, August.
    3. Mutlu, Asli & Roy, Debraj & Filatova, Tatiana, 2023. "Capitalized value of evolving flood risks discount and nature-based solution premiums on property prices," Ecological Economics, Elsevier, vol. 205(C).
    4. Stephanie F. Stefanski & Jay P. Shimshack, 2016. "Valuing Marine Biodiversity in the Gulf of Mexico: Evidence from the Proposed Boundary Expansion of the Flower Garden Banks National Marine Sanctuary," Marine Resource Economics, University of Chicago Press, vol. 31(2), pages 211-232.
    5. Powe, N. A. & Bateman, I. J., 2003. "Ordering effects in nested 'top-down' and 'bottom-up' contingent valuation designs," Ecological Economics, Elsevier, vol. 45(2), pages 255-270, June.
    6. Xuehong Wang & Jeff Bennett & Chen Xie & Zhitao Zhang, 2010. "Estimating the Non-market Environmental Benefits of Land Use Change in China," Chapters, in: Jeff Bennett & Ekin Birol (ed.), Choice Experiments in Developing Countries, chapter 6, Edward Elgar Publishing.
    7. Rolfe, John & Windle, Jill & Bennett, Jeffrey W. & Mazur, Kasia, 2013. "Calibration of values in benefit transfer to account for variations in geographic scale and scope: Comparing two choice modelling experiments," 2013 Conference (57th), February 5-8, 2013, Sydney, Australia 152176, Australian Agricultural and Resource Economics Society.
    8. Olivier Petit & Franck-Dominique Vivien, 2015. "When economists and ecologists meet on Ecological Economics: two science paths around two interdisciplinary concepts," Post-Print halshs-01249774, HAL.
    9. Diane Dupont, 2003. "CVM Embedding Effects When There Are Active, Potentially Active and Passive Users of Environmental Goods," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 25(3), pages 319-341, July.
    10. Beça, Pedro & Santos, Rui, 2010. "Measuring sustainable welfare: A new approach to the ISEW," Ecological Economics, Elsevier, vol. 69(4), pages 810-819, February.
    11. Rao, Nalini S. & Ghermandi, Andrea & Portela, Rosimeiry & Wang, Xuanwen, 2015. "Global values of coastal ecosystem services: A spatial economic analysis of shoreline protection values," Ecosystem Services, Elsevier, vol. 11(C), pages 95-105.
    12. Vermaat, Jan E. & Eppink, Florian & van den Bergh, Jeroen C.J.M. & Barendregt, Aat & van Belle, Jasper, 2005. "Aggregation and the matching of scales in spatial economics and landscape ecology: empirical evidence and prospects for integration," Ecological Economics, Elsevier, vol. 52(2), pages 229-237, January.
    13. Rambonilaza, Mbolatiana, 2004. "Évaluation de la demande de paysage : état de l’art et réflexions sur la méthode du transfert des benefices," Cahiers d'Economie et de Sociologie Rurales (CESR), Institut National de la Recherche Agronomique (INRA), vol. 70.
    14. Veisten, Knut, 2007. "Contingent valuation controversies: Philosophic debates about economic theory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(2), pages 204-232, April.
    15. Katherine Kiel, 2007. "The Impact of Wetlands Rules on the Prices of Regulated and Proximate Houses: A Case Study," Working Papers 0707, College of the Holy Cross, Department of Economics.
    16. Rulleau, Bénédicte & Dehez, Jeoffrey & Point, Patrick, 2011. "The tourist recreational demand for coastal forests: Do forests really matter?," Review of Agricultural and Environmental Studies - Revue d'Etudes en Agriculture et Environnement (RAEStud), Institut National de la Recherche Agronomique (INRA), vol. 92(3).
    17. Costanza, Robert & d'Arge, Ralph & de Groot, Rudolf & Farber, Stephen & Grasso, Monica & Hannon, Bruce & Limburg, Karin & Naeem, Shahid & O'Neill, Robert V. & Paruelo, Jose, 1998. "The value of ecosystem services: putting the issues in perspective," Ecological Economics, Elsevier, vol. 25(1), pages 67-72, April.
    18. Camille Bann, 1997. "An Economic Analysis of Alternative Mangrove Management Strategies in Koh Kong Province, Cambodia," EEPSEA Research Report rr1997113, Economy and Environment Program for Southeast Asia (EEPSEA), revised Nov 1997.
    19. Hoehn, John P. & Randall, Alan, 2002. "The effect of resource quality information on resource injury perceptions and contingent values," Resource and Energy Economics, Elsevier, vol. 24(1-2), pages 13-31, February.
    20. Carson, Richard & Flores, Nicholas E. & Hanemann, W. Michael, 1998. "Sequencing and Valuing Public Goods," Journal of Environmental Economics and Management, Elsevier, vol. 36(3), pages 314-323, November.

    More about this item

    Keywords

    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:umaesp:13878. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/daumnus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.