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Environmental value and valuation over time

Author

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  • Gabriela Scheufele

    (Crawford School of Public Policy, The Australian National University, Australia)

  • Jeff Bennett

    (Author-Workplace-Name: Crawford School of Public Policy, The Australian National University, Australia)

Abstract

Time and value are related concepts that influence human behaviour. Although classical topics in human thinking throughout the ages, few environmental economic non-market valuation studies have attempted to link the two concepts. Economists have estimated non-market environmental values in monetary terms for over 30 years. This history of valuation provides an opportunity to compare value estimates and how valuation techniques have changed over time. This research aims to compare value estimates of benefits of a protected natural area. In 1978, Nadgee Nature Reserve on the far south coast of New South Wales was the focus of the first application of the contingent valuation method in Australia. This research aims to replicate that study using both the original 1978 contingent valuation method questionnaire and sampling technique, as well as state of the art non-market valuation tools. This replication will provide insights into the extent and direction of changes in environmental values over time. It will also highlight the impact on value estimates of methodological evolution. These insights will help make allocating resources more efficient.

Suggested Citation

  • Gabriela Scheufele & Jeff Bennett, 2008. "Environmental value and valuation over time," Environmental Economics Research Hub Research Reports 0806, Environmental Economics Research Hub, Crawford School of Public Policy, The Australian National University.
    • Handle: RePEc:een:eenhrr:0806
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    References listed on IDEAS

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    2. S. V. Ciriacy-Wantrup, 1947. "Capital Returns from Soil-Conservation Practices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 29(4_Part_II), pages 1181-1196.
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