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Valuing natural assets

Author

Listed:
  • Clough, Peter

    (New Zealand Institute of Economic Research)

  • Hickman, Matt

    (New Zealand Institute of Economic Research)

  • Stephenson, John

    (New Zealand Institute of Economic Research)

Abstract

Much of the value New Zealanders get from natural assets is intangible, making it difficult to measure. Currently, there are a variety of techniques used to measure the value of natural assets, adding to the cost and uncertainty of values obtained. A standardised technique would make economic value estimates more consistent, more cost-effective to prepare, and make comparison of alternative uses of natural assets easier. NZIER’s proposed approach would improve understanding of the value of natural assets – giving them more consistent weight in development and conservation decisions, and improving the way we manage them.

Suggested Citation

  • Clough, Peter & Hickman, Matt & Stephenson, John, 2013. "Valuing natural assets," NZIER Working Paper 2013/3, New Zealand Institute of Economic Research.
  • Handle: RePEc:ris:nzierw:2013_003
    as

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    File URL: http://nzier.org.nz/publication/valuing-natural-assets-nzier-public-discussion-paper-20133
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    References listed on IDEAS

    as
    1. Boxall, Peter C. & Adamowicz, Wiktor L. & Swait, Joffre & Williams, Michael & Louviere, Jordan, 1996. "A comparison of stated preference methods for environmental valuation," Ecological Economics, Elsevier, vol. 18(3), pages 243-253, September.
    2. Bateman, Ian J, et al, 1997. "Does Part-Whole Bias Exist? An Experimental Investigation," Economic Journal, Royal Economic Society, vol. 107(441), pages 322-332, March.
    3. Bruno S. Frey & Simon Luechinger & Alois Stutzer, 2010. "The Life Satisfaction Approach to Environmental Valuation," Annual Review of Resource Economics, Annual Reviews, vol. 2(1), pages 139-160, October.
    4. Peter A. Diamond & Jerry A. Hausman, 1994. "Contingent Valuation: Is Some Number Better than No Number?," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 45-64, Fall.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    valuing natural resources; decision making; New Zealand;

    JEL classification:

    • Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General

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