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Existence, Option, And User Demands For Nonmarket Resources

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  • Cameron, Trudy Ann
  • Englin, Jeffrey

Abstract

An ambitious survey of households in the Northeastern United States ' conducted during July of 1989 allows an unusual opportunity to make an empirical assessment of the effects upon individual resource valuations of different categories of demand for fresh-water recreational resources. The theoretical and empirical literature using contingent valuation methods to measure the demand for nonmarket goods typically emphasizes user demands only. By neglecting the magnitude of option and existence demands, the total social value of these resources (or changes in them) can be systematically understated. We are careful to address the simultaneity between demand status and individual environmental values, employing ordered probit models, censored normal regression models, and a generalization of selectivity correction models in an effort to uncover the true contribution of demand status to the explanation of resource values.

Suggested Citation

  • Cameron, Trudy Ann & Englin, Jeffrey, 1990. "Existence, Option, And User Demands For Nonmarket Resources," 1990 Annual meeting, August 5-8, Vancouver, Canada 270854, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea90:270854
    DOI: 10.22004/ag.econ.270854
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    References listed on IDEAS

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    1. Richard G. Walsh & John B. Loomis & Richard A. Gillman, 1984. "Valuing Option, Existence, and Bequest Demands for Wilderness," Land Economics, University of Wisconsin Press, vol. 60(1), pages 14-29.
    2. Cameron, Trudy Ann & James, Michelle D, 1987. "Efficient Estimation Methods for "Closed-ended' Contingent Valuation Surveys," The Review of Economics and Statistics, MIT Press, vol. 69(2), pages 269-276, May.
    3. Douglas A. Greenley & Richard G. Walsh & Robert A. Young, 1981. "Option Value: Empirical Evidence from a Case Study of Recreation and Water Quality," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 96(4), pages 657-673.
    4. Smith, V. Kerry, 1987. "Uncertainty, benefit-cost analysis, and the treatment of option value," Journal of Environmental Economics and Management, Elsevier, vol. 14(3), pages 283-292, September.
    5. Cameron, Trudy Ann, 1988. "A new paradigm for valuing non-market goods using referendum data: Maximum likelihood estimation by censored logistic regression," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 355-379, September.
    6. David S. Brookshire & Larry S. Eubanks & Alan Randall, 1983. "Estimating Option Prices and Existence Values for Wildlife Resources," Land Economics, University of Wisconsin Press, vol. 59(1), pages 1-15.
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    Cited by:

    1. M. Shechter & B. Reiser & N. Zaitsev, 1998. "Measuring Passive Use Value: Pledges, Donations and CV Responses in Connection with an Important Natural Resource," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 12(4), pages 457-478, December.

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