Valuing Unique Natural Resources: The Case of Endangered Species

Article
Author:White, Mark, McIntire School of CommerceUniversity of Virginia
Abstract:

The valuation of environmental goods and services is an area of significant recent interest with ramifications for environmental policy-making and natural resource damage assessments. Controversy exists over the best way to determine passive-use values , i.e., benefits accruing to individuals based on the knowledge that a specific environmental resource exists or the knowledge that it will be available for future generations. The contingent valuation method (CVM) is at present the only technique available for determining passive-use values, and it has been widely criticized. This paper describes an alternative technique based on the solicitation of expert opinion and reports the results of a preliminary study using appraisal professionals to value eight
of Virginia's endangered species.

Keywords:
environment
Rights:
All rights reserved (no additional license for public reuse)
Language:
English
Source Citation:

White, Mark. "Valuing Unique Natural Resources: The Case of Endangered Species." University of Virginia Online Scholarship Initiative (1996).

Published Date:
1996
Sponsoring Agency:
University of Virginia Online Scholarship Initiative
Notes:

Originally published at http://etext.lib.virginia.edu/osi/