Environmental value and valuation over time

Gabriela Scheufele and Jeffrey Bennett

No 94805, Research Reports from Australian National University, Environmental Economics Research Hub

Abstract: Time and value are related concepts that influence human behaviour. Although classical topics in human thinking throughout the ages, few environmental economic non-market valuation studies have attempted to link the two concepts. Economists have estimated non-market environmental values in monetary terms for over 30 years. This history of valuation provides an opportunity to compare value estimates and how valuation techniques have changed over time. This research aims to compare value estimates of benefits of a protected natural area. In 1978, Nadgee Nature Reserve on the far south coast of New South Wales was the focus of the first application of the contingent valuation method in Australia. This research aims to replicate that study using both the original 1978 contingent valuation method questionnaire and sampling technique, as well as state of the art non-market valuation tools. This replication will provide insights into the extent and direction of changes in environmental values over time. It will also highlight the impact on value estimates of methodological evolution. These insights will help make allocating resources more efficient.

Keywords: Environmental Economics and Policy; Land Economics/Use (search for similar items in EconPapers)
Pages: 35
Date: 2008-11
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Working Paper: Environmental value and valuation over time (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:eerhrr:94805

DOI: 10.22004/ag.econ.94805

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