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Estimating the economic benefits of a Wetland restoration program in New Zealand: A contingent valuation approach

  • Ndebele, Tom
  • Forgie, Vicky
  • Vu, Huong

Decades of failure to evaluate the ecosystem services provided by Pekapeka Swamp in New Zealand led to decisions that allowed prolonged degradation of the swamp, resulting in the loss of potential economic value. In 1998 a long term management plan was adopted to restore and preserve the swamp without evaluating the potential welfare benefits of the plan. This study contributes to literature by providing the first estimation of total economic value (TEV) of the restoration and preservation of Pekapeka Swamp. Using the contingent valuation method, this study shows that estimated TEV ranges from NZ$1.64 million to NZ$ 3.78 million per year and the net present value ranges between NZ$5.05 million and NZ$16.39 million. These results imply that the restoration and preservation of Pekapeka Swamp is an important investment.

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File URL: http://mpra.ub.uni-muenchen.de/54730/1/MPRA_paper_54730.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 54730.

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Date of creation: 24 Mar 2014
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Handle: RePEc:pra:mprapa:54730
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  7. Zhongmin, Xu & Guodong, Cheng & Zhiqiang, Zhang & Zhiyong, Su & Loomis, John, 2003. "Applying contingent valuation in China to measure the total economic value of restoring ecosystem services in Ejina region," Ecological Economics, Elsevier, vol. 44(2-3), pages 345-358, March.
  8. Richard O‘Conor & Magnus Johannesson & Per-Olov Johansson, 1999. "Stated Preferences, Real Behaviour and Anchoring: Some Empirical Evidence," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 13(2), pages 235-248, March.
  9. 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.
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  12. Brouwer, Roy, 2000. "Environmental value transfer: state of the art and future prospects," Ecological Economics, Elsevier, vol. 32(1), pages 137-152, January.
  13. Thomas H. Stevens & Jaime Echeverria & Ronald J. Glass & Tim Hager & Thomas A. More, 1991. "Measuring the Existence Value of Wildlife: What Do CVM Estimates Really Show?," Land Economics, University of Wisconsin Press, vol. 67(4), pages 390-400.
  14. Pate, Jennifer & Loomis, John, 1997. "The effect of distance on willingness to pay values: a case study of wetlands and salmon in California," Ecological Economics, Elsevier, vol. 20(3), pages 199-207, March.
  15. Amirnejad, Hamid & Khalilian, Sadegh & Assareh, Mohammad H. & Ahmadian, Majid, 2006. "Estimating the existence value of north forests of Iran by using a contingent valuation method," Ecological Economics, Elsevier, vol. 58(4), pages 665-675, July.
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