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Determination Of Economic Value Of Assets With Non-Market Value

Author

Listed:
  • Mehmet Erdemir GÃœNDOÄžMUÅž

    (Adnan Menderes Ãœniversitesi/TÃœRKÄ°YE)

  • Veli Rıza KALFA

    (Pamukkale Ãœniversitesi/TÃœRKÄ°YE)

Abstract

Lack of a specific market of environmental assets, accordingly lack of their price (economic value) leads to failure of fully identify the benefits that will arise from the use of such assets. Unawareness of consumers of the potential benefits from using such assets with non market value leads them to use these kind of assets unconsciously. This issue will cause decrease, even extinction of environmental assets such as forestland, river. It is necessary to determine the economic value of such assets with non market value to ensure their protection. In case of determination of economic values of assets with non market value, users will use natural resources more consciously than before, enabling next generations also to more than benefit such environmental assets. The aim of this paper is to identify the factors leading to determination of economic values of assets with non-market value, and give information of travel cost method, contingent valuation method, hedonic price method, which have been commonly used by researchers for determination of economic valuation.

Suggested Citation

  • Mehmet Erdemir GÃœNDOÄžMUÅž & Veli Rıza KALFA, 2016. "Determination Of Economic Value Of Assets With Non-Market Value," JOURNAL OF LIFE ECONOMICS, Holistence Publications, vol. 3(4), pages 177-200, October.
    • Handle: RePEc:jle:journl:v:3:y:2016:i:4:p:177-200
    DOI: 10.15637/jlecon.163
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