Valuing the Preservation of Australia's Kakadu Conservation Zone

Carson, Richard T.; Wilks, Leanne; Imber, David A.

doi:10.1093/oep/46.supplement_1.727

Cited by 122 publications

(63 citation statements)

References 9 publications

(1 reference statement)

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“…The closed-ended format usually has two methods, single-bounded and double-bounded. The double-bounded format obtains more information than the single-bounded format [52], and the results demonstrate that the double-bounded format is better than the single-bounded format [53] The double-bounded dichotomous choice model produces the interval-censored data for WTP estimation, which meets the survival analysis [54,55], and the different survival functions improve the goodness-of-fit for parameter estimation [56]. Thus, this study used CVM with double-bounded dichotomous choice and a survival function to assess non-use value.…”

Section: Contingent Valuation Methodsmentioning

confidence: 96%

The Total Economic Value of Sport Tourism in Belt and Road Development—An Environmental Perspective

2018

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Abstract:The development of the belt and road region leads cities to significantly increase the amount of public expenditure on the new construction of facilities and infrastructure. Mass construction not only relies on many environmental resources, but might also destroy the local natural environment. In order to reveal the importance of the natural environment, this study explores the economic value of the natural landscape for sport tourism in Taiwan. While the concept of total economic value (TEV) is applied to the Sun-Moon Lake Swimming Carnival Event, the travel cost method (TCM) is adopted to estimate the use value for participants, and the double-bounded dichotomous contingent valuation method (CVM) and survival analysis are performed to evaluate the non-use value for the residents. The use value is on average NT$ 5668 for one participant. The median willingness to pay for the option value, existence value and bequest value of every resident is NT$433, NT$411 and NT$274, respectively.

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Section: Contingent Valuation Methodsmentioning

confidence: 96%

The Total Economic Value of Sport Tourism in Belt and Road Development—An Environmental Perspective

2018

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“…Hanemann et al (1991) utilized a double-bounded close-ended method and found the results obtained by parameter estimation to be superior to those obtained by the single-bounded close-ended method [58]. Carson et al (1994) also presented that double-bounded dichotomous choice questions yield more information than do single-bounded ones [59]. In the studies of Scarpa and Bateman [56] (2000) and Bateman et al [60] (2001), the inquiry frequency was triple for bidding.…”

Section: Contingent Valuation Methodsmentioning

confidence: 99%

“…This study follows the analytical approach of Carson et al [59] (1994) and León [64] (1996). We note that     M represents the individual maximum WTP, where α denotes a location parameter, σ represents a scaling parameter, and ε is a random disturbance.…”

Section: Contingent Valuation Methodsmentioning

confidence: 99%

Estimating the Total Economic Value of Cultivated Flower Land in Taiwan

Huang

Wang

2015

Sustainability

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Many arable land areas have been converted to residential or business uses by Taiwan government authorities, because the low farmland value is associated with the low value of agricultural products. However, agriculture is multifunctional. This study investigates farmland value through Total Economic Value (TEV) for Tianwei Township, which is Taiwan's largest floral farmland region. Direct use value measures the floral products' output value and recreational benefit. Recreational benefit from visitors' flower sightseeing was measured by the travel cost method (TCM). Option value and non-use value, including bequest value and existence value, measure the residents' willingness to pay through the double-bounded dichotomous contingent valuation method (CVM). The results show that the total floral products' output is NT$1.441 billion in 2007, recreational benefit is roughly NT$17.757 billion. The intangible value of option value and non-use values are approximately between NT$5 million to 15 million. Therefore, ignoring various values of farmland might lead to an underestimation of farmland value.

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“…The underlying feature is the use of the questionnaire to ask the individuals directly to state their economic values for environmental commodities (Mitchell and Carson 1989). The use of questionnaires require economists to work closely with experts from market and survey research, sociology and psychology in order to guarantee the authority of the stated choice methods as a valid instrument to assess economic value of an environmental benefit (Carson et al 1994, NOAA 1993. In contrast, revealed preference methods have remained an exclusive valuation tool for economists.…”

Section: Economic Valuation Tool Boxmentioning

confidence: 99%

The Economic Valuation of Marine Ecosystems

2009

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SummaryIn a democratic system, policy makers have to take the preferences of the citizens into account. Since we live in a world with scarce resources, one is asked to make choices regarding the use and management of these resources. In this context, if policy makers decide to invest in the protection of marine ecosystems, less financial resources will be available for other policy areas, for example national health. Moreover, the investment in the protection of marine ecosystems brings along with it the provision of a wide range of benefits to humans though most are not priced in the existing markets -for example climate regulation and provision of habitat for biodiversity. Given that most human activities are priced in one way or other, in some decision contexts, the temptation exists to downplay or ignore these important marine ecosystem benefits on the basis of the non-existence of prices. The simple and simplistic idea in the minds of many policymakers is that a lack of prices is equivalent to a lack of values. Clearly, this is a biased perspective. Against this background, this paper explores the motivation for an economic valuation of this complex resource. The state-of-the-art economic valuation methodologies follow the guidelines proposed by the Millennium Ecosystem Assessment, taking into account the existing scientific knowledge on the functioning of marine ecosystems, marine ecosystem goods and services and its impacts on human welfare. Finally, we critically review some economic valuation studies, arguing that the economic valuation of marine ecosystem services and biodiversity can make sense if and only if important guidelines are observed. Keywords February 2009Abstract In a democratic system, policy makers have to take the preferences of the citizens into account. Since we live in a world with scarce resources, one is asked to make choices regarding the use and management of these resources. In this context, if policy makers decide to invest in the protection of marine ecosystems, less financial resources will be available for other policy areas, for example national health. Moreover, the investment in the protection of marine ecosystems brings along with it the provision of a wide range of benefits to humans though most are not priced in the existing markets -for example climate regulation and provision of habitat for biodiversity. Given that most human activities are priced in one way or other, in some decision contexts, the temptation exists to downplay or ignore these important marine ecosystem benefits on the basis of the non-existence of prices. The simple and simplistic idea in the minds of many policymakers is that a lack of prices is equivalent to a lack of values. Clearly, this is a biased perspective. Against this background, this paper explores the motivation for an economic valuation of this complex resource. The state-of-theart economic valuation methodologies follow the guidelines proposed by the Millennium Ecosystem Assessment, taking into account the existing scientific knowledg...

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Valuing the Preservation of Australia's Kakadu Conservation Zone

Cited by 122 publications

References 9 publications

The Total Economic Value of Sport Tourism in Belt and Road Development—An Environmental Perspective

The Total Economic Value of Sport Tourism in Belt and Road Development—An Environmental Perspective

Estimating the Total Economic Value of Cultivated Flower Land in Taiwan

The Economic Valuation of Marine Ecosystems

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