WHAT IS A WETLAND WORTH? CONCEPTS AND ISSUES IN ECONOMIC VALUATION

A wetland has no economic value in and of itself. Nor does it have a unique value, irrespective of context. Economic value is ascribed to a wetland by humans operating at a confluence of individual preferences, property rights, technological opportunities, and available resources. Such values are not generally reflected in market prices, a deficiency that can nonetheless addressed by competent economic analysis, using a variety of empirical techniques. The task is complicated by scientific information shortfalls, by ever-changing technologies and economies, and by evolving societal preferences--but it can be done. Economic valuations have been used in wetland priority rankings and in comparative investment analyses.


Issue Date:
1992
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/13878
Total Pages:
23
Series Statement:
Staff Paper P92-1




 Record created 2017-04-01, last modified 2017-04-04

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