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A Threshold Value Analysis Of Proposed Forest Reserves

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  • Bennett, Jeffrey W.

Abstract

Threshold Value Analysis (TVA) may be a useful input into natural resource decision making when non-market values are involved. The decision rule under a TVA is to protect a natural resource if the (non-marketed and unquantified) benefits so arising are deemed to be greater than a threshold value defined by the (marketed and quantified) developmental benefits foregone. In this paper, threshold values are calculated for a range of forest protection options being considered under the Regional Forestry Agreements being negotiated in New South Wales. A static analysis is first undertaken. This is then enhanced by the incorporation of factors that affect the alternative streams of value through time. Extensive sensitivity testing to demonstrate the impact of assumption variations is reported. To put into context the threshold values so calculated, the benefit transfer approach is used to provide estimates of forest protection values.

Suggested Citation

  • Bennett, Jeffrey W., 1999. "A Threshold Value Analysis Of Proposed Forest Reserves," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 123768, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare99:123768
    DOI: 10.22004/ag.econ.123768
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    References listed on IDEAS

    as
    1. Richard G. Walsh & John B. Loomis & Richard A. Gillman, 1983. "Valuing Option, Existence, and Bequest Demands for Wilderness," Land Economics, University of Wisconsin Press, vol. 59(4), pages 14-29.
    2. Jeff Bennett, 1996. "Estimating the Recreation Use Values of National Parks," Tourism Economics, , vol. 2(4), pages 303-320, December.
    3. Loomis John & Lockwood Michael & DeLacy Terry, 1993. "Some Empirical Evidence on Embedding Effects in Contingent Valuation of Forest Protection," Journal of Environmental Economics and Management, Elsevier, vol. 25(1), pages 45-55, July.
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    Cited by:

    1. Bennett, Jeff, 2001. "Private Sector Business Opportunities in National Parks," Australasian Agribusiness Review, University of Melbourne, Department of Agriculture and Food Systems, vol. 9, pages 1-14.
    2. Mark Morrison & Jeff Bennett, 2004. "Valuing New South Wales rivers for use in benefit transfer," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(4), pages 591-611, December.

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