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Estimating Wetland Preservation Values: A Wakkerstroom Case Study

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  • Oellermann, R. G.
  • Darroch, M. A. G.

Abstract

Wetland loss rates remain high as the full value of wetland services is understated. This is partly due to the benefits of wetland preservation (non-use) being unpriced, as they are not tradedin markets. These benefits are reflected by option, existence and bequest demands for wetland preservation. The Contingent Valuation Method (CVM) was used to estimate peoples' willingness-to-pay (WTP) for wetland preservation, using the Wakkerstroom wetland as a case study. Median WTP for option, existence and bequest values ranged from R15.01 -R20.00 per month. Key determinants of these values were annual household income, respondent education and age, household size and membership of other environmental organizations. Well designed CVM studies can help to make the public, policy-makers and individual farmers more aware of the value of wetland preservation, leading to more informed decisions being made about wetland use.

Suggested Citation

  • Oellermann, R. G. & Darroch, M. A. G., 1994. "Estimating Wetland Preservation Values: A Wakkerstroom Case Study," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 33(4), December.
    • Handle: RePEc:ags:agreko:267723
    DOI: 10.22004/ag.econ.267723
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    References listed on IDEAS

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    1. Nick Hanley & Clive L. Spash, 1993. "Cost–Benefit Analysis and the Environment," Books, Edward Elgar Publishing, number 205.
    2. R. Kerry Turner, 1988. "Wetland Conservation: Economics and Ethics," Palgrave Macmillan Books, in: David Collard & David Pearce & David Ulph (ed.), Economics, Growth and Sustainable Environments, chapter 9, pages 121-159, Palgrave Macmillan.
    3. Young, Ralph, 1991. "The Economic Significance of Environmental Resources: A Review of the Evidence," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(03), pages 1-26, December.
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