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Simulated Exchange Value Method: Applying Green National Accounting to Forest Public Recreation

Listed author(s):
  • Jose L. Oviedo
  • Pablo Campos
  • Alejandro Caparrós

While applied national accounts are based on market costs and outputs, non-market valuation techniques yield estimates for consumer or Hicksian surplus. To integrate non-market values in national accounts we propose the Simulated Exchange Value method, which simulates the whole market (demand and cost functions) to obtain exchange values. We focus on forest public recreational services because they are relatively close to markets and have been frequently valued using non-market valuation techniques. We apply this method to the public visitor recreational services of the woodlands of Alcornocales Natural Park (southwestern Spain). We estimate the cost function using available data on government costs incurred in the provision of recreational services and we estimate the demand function through contingent valuation. Using both functions, we analyze two potential solutions for the simulated market: monopoly and perfect competition. The results show for monopoly and for perfect competition, respectively, a net operating margin of €0.74/ha and of €0.61/ha, and a total social income of €3.14/ha and of €3.23/ha.

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File URL: http://investigacion.cchs.csic.es/RePEc/ipp/wpaper/16_Oviedo_Campos_Caparros.pdf
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Paper provided by Instituto de Políticas y Bienes Públicos (IPP), CSIC in its series Working Papers with number 1016.

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Date of creation: Nov 2010
Handle: RePEc:ipp:wpaper:1016
Contact details of provider: Web page: http://www.ipp.csic.es/

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  1. Trudy Ann Cameron, 1991. "Interval Estimates of Non-Market Resource Values from Referendum Contingent Valuation Surveys," Land Economics, University of Wisconsin Press, vol. 67(4), pages 413-421.
  2. Cairns, Robert D., 2008. "Value and income," Ecological Economics, Elsevier, vol. 66(2-3), pages 417-424, June.
  3. Matero, Jukka & Saastamoinen, Olli, 2007. "In search of marginal environmental valuations -- ecosystem services in Finnish forest accounting," Ecological Economics, Elsevier, vol. 61(1), pages 101-114, February.
  4. Boyle Kevin J. & Welsh Michael P. & Bishop Richard C., 1993. "The Role of Question Order and Respondent Experience in Contingent-Valuation Studies," Journal of Environmental Economics and Management, Elsevier, vol. 25(1), pages 80-99, July.
  5. Alberini, Anna & Boyle, Kevin & Welsh, Michael, 2003. "Analysis of contingent valuation data with multiple bids and response options allowing respondents to express uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 45(1), pages 40-62, January.
  6. Campos, Pablo & Caparros, Alejandro, 2006. "Social and private total Hicksian incomes of multiple use forests in Spain," Ecological Economics, Elsevier, vol. 57(4), pages 545-557, June.
  7. 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.
  8. Robert Cairns, 2003. "Reconciling the Green Accounts," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 25(1), pages 51-63, May.
  9. Pablo Campos & Francois Bonnieux & Alejandro Caparros & Jean-Christophe Paoli, 2007. "Measuring total sustainable incomes from multifunctional management of Corsican Maritime Pine and Andalusian Cork oak Mediterranean forests," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 50(1), pages 65-85.
  10. Welsh, Michael P. & Poe, Gregory L., 1998. "Elicitation Effects in Contingent Valuation: Comparisons to a Multiple Bounded Discrete Choice Approach," Journal of Environmental Economics and Management, Elsevier, vol. 36(2), pages 170-185, September.
  11. Alejandro Caparrós & Pablo Campos & Gregorio Montero, 2003. "An Operative Framework for Total Hicksian Income Measurement: Application to a Multiple-Use Forest," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 26(2), pages 173-198, October.
  12. Loomis, John B., 2005. "Economic Values without Prices: The Importance of Nonmarket Values and Valuation for Informing Public Policy Debates," Choices, Agricultural and Applied Economics Association, vol. 20(3).
  13. William S. Breffle & Robert D. Rowe, 2002. "Comparing Choice Question Formats for Evaluating Natural Resource Tradeoffs," Land Economics, University of Wisconsin Press, vol. 78(2), pages 298-314.
  14. Cameron, Trudy Ann, 1988. "A new paradigm for valuing non-market goods using referendum data: Maximum likelihood estimation by censored logistic regression," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 355-379, September.
  15. Richard C. Bishop & Thomas A. Heberlein, 1979. "Measuring Values of Extramarket Goods: Are Indirect Measures Biased?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(5), pages 926-930.
  16. Joseph Cooper & John Loomis, 1992. "Sensitivity of Willingness-to-Pay Estimates to Bid Design in Dichotomous Choice Contingent Valuation Models," Land Economics, University of Wisconsin Press, vol. 68(2), pages 211-224.
  17. A. Caparros & P. Campos & G. Montero, 2003. "An operative framework for total hicksian income measurement - Application to a multiple-use forest," Post-Print hal-00719124, HAL.
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