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The Economic Significance of Environmental Resources: A Review of the Evidence

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  • Young, Ralph

Abstract

This paper reviews briefly the approaches employed for generating value estimates for unpriced environmental resources, with particular attention being paid to the contingent valuation method. Estimates of value for environmental products and services for both the United States and Australia are presented. This evidence clearly demonstrates that a wide range of unpriced environmental resources have significant economic value to the community. The paper concludes with a discussion of the implications for project development, funding and policy in Australia.

Suggested Citation

  • 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.
    • Handle: RePEc:ags:remaae:12392
    DOI: 10.22004/ag.econ.12392
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    Cited by:

    1. 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.

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