Valuing natural assets
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.
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- 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.
- 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.
- 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.
- Bruno S. Frey & Simon Luechinger & Alois Stutzer, 2009. "The Life Satisfaction Approach to Environmental Valuation," CESifo Working Paper Series 2836, CESifo Group Munich.
- Frey, Bruno S. & Luechinger, Simon & Stutzer, Alois, 2009. "The Life Satisfaction Approach to Environmental Valuation," IZA Discussion Papers 4478, Institute for the Study of Labor (IZA).
- 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.
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