Non Market Valuation in New Zealand:1974 through 2005

Richard Tolentino Yao () and Pamela Kaval

Working Papers in Economics from University of Waikato, Department of Economics

Abstract: Non-market valuation (NMV) is recognized as an essential tool in policy decision making worldwide. In this paper, we investigate the history of NMV, specifically in relation to New Zealand (NZ), by compiling and analyzing all available published studies. Results show a significant increase in the number of studies, specifically those requested by government agencies, following the passage of the NZ Resource Management Act of 1991. Studies were found to be concentrated in three major areas: outdoor recreation, environmental conservation/management, and travel time savings. These three areas covered eight environmental commodities, the value of which totaled NZ$72 billion, or 50% of NZ GDP, with the highest valued commodity being biodiversity services. While our analysis yielded many positive results, we did discover, however, a severe lack of studies in many areas including pest control, water resources and outdoor recreation.

Keywords: non-market valuation; New Zealand; consumer surplus; Resource Management Act (search for similar items in EconPapers)
JEL-codes: B4 Q2 Q26 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr, nep-env and nep-his
Date: 2007-09-19

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Persistent link: http://EconPapers.repec.org/RePEc:wai:econwp:07/17

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