IDEAS home Printed from https://ideas.repec.org/p/ris/nzierw/2013_003.html
   My bibliography  Save this paper

Valuing natural assets

Author

Listed:
  • Clough, Peter

    (New Zealand Institute of Economic Research)

  • Hickman, Matt

    (New Zealand Institute of Economic Research)

  • Stephenson, John

    (New Zealand Institute of Economic Research)

Abstract

Much of the value New Zealanders get from natural assets is intangible, making it difficult to measure. Currently, there are a variety of techniques used to measure the value of natural assets, adding to the cost and uncertainty of values obtained. A standardised technique would make economic value estimates more consistent, more cost-effective to prepare, and make comparison of alternative uses of natural assets easier. NZIER’s proposed approach would improve understanding of the value of natural assets – giving them more consistent weight in development and conservation decisions, and improving the way we manage them.

Suggested Citation

  • Clough, Peter & Hickman, Matt & Stephenson, John, 2013. "Valuing natural assets," NZIER Working Paper 2013/3, New Zealand Institute of Economic Research.
    • Handle: RePEc:ris:nzierw:2013_003
    as

    Download full text from publisher

    File URL: https://www.nzier.org.nz/publications/valuing-natural-assets-nzier-public-discussion-paper-20133
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bruno S. Frey & Simon Luechinger & Alois Stutzer, 2010. "The Life Satisfaction Approach to Environmental Valuation," Annual Review of Resource Economics, Annual Reviews, vol. 2(1), pages 139-160, October.
    2. Nick Hanley & Jennifer Milne, "undated". "Ethical Beliefs and Behaviour in Contingent Valuation," Working Papers Series e96/1, University of Stirling, Division of Economics.
    3. Boxall, Peter C. & Adamowicz, Wiktor L. & Swait, Joffre & Williams, Michael & Louviere, Jordan, 1996. "A comparison of stated preference methods for environmental valuation," Ecological Economics, Elsevier, vol. 18(3), pages 243-253, September.
    4. Peter A. Diamond & Jerry A. Hausman, 1994. "Contingent Valuation: Is Some Number Better than No Number?," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 45-64, Fall.
    5. Bateman, Ian J, et al, 1997. "Does Part-Whole Bias Exist? An Experimental Investigation," Economic Journal, Royal Economic Society, vol. 107(441), pages 322-332, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sælensminde, Kjartan, 2003. "Embedding effects in valuation of non-market goods," Transport Policy, Elsevier, vol. 10(1), pages 59-72, January.
    2. Nick Hanley & Mandy Ryan & Robert Wright, 2003. "Estimating the monetary value of health care: lessons from environmental economics," Health Economics, John Wiley & Sons, Ltd., vol. 12(1), pages 3-16, January.
    3. Robert J. Johnston & Kevin J. Boyle & Wiktor (Vic) Adamowicz & Jeff Bennett & Roy Brouwer & Trudy Ann Cameron & W. Michael Hanemann & Nick Hanley & Mandy Ryan & Riccardo Scarpa & Roger Tourangeau & Ch, 2017. "Contemporary Guidance for Stated Preference Studies," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 4(2), pages 319-405.
    4. Nick Hanley & Douglas MacMillan & Robert E. Wright & Craig Bullock & Ian Simpson & Dave Parsisson & Bob Crabtree, 1998. "Contingent Valuation Versus Choice Experiments: Estimating the Benefits of Environmentally Sensitive Areas in Scotland," Journal of Agricultural Economics, Wiley Blackwell, vol. 49(1), pages 1-15, March.
    5. Veisten, Knut, 2007. "Contingent valuation controversies: Philosophic debates about economic theory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(2), pages 204-232, April.
    6. Richard Carson & Nicholas Flores & Norman Meade, 2001. "Contingent Valuation: Controversies and Evidence," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 19(2), pages 173-210, June.
    7. Richard T. Carson, 2011. "Contingent Valuation," Books, Edward Elgar Publishing, number 2489.
    8. Levan Elbakidze & Rodolfo M. Nayga, 2018. "The Adding-Up Test in an Incentivized Value Elicitation Mechanism: The Role of the Income Effect," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 71(3), pages 625-644, November.
    9. Anders Dugstad & Kristine Grimsrud & Gorm Kipperberg & Henrik Lindhjem & Ståle Navrud, 2020. "Scope elasticity and economic significance in discrete choice experiments," Discussion Papers 942, Statistics Norway, Research Department.
    10. Kyriaki Remoundou & Phoebe Koundouri, 2009. "Environmental Effects on Public Health: An Economic Perspective," IJERPH, MDPI, vol. 6(8), pages 1-19, July.
    11. Xuan Thi Dan Huynh & Tien Dung Khong & Adam Loch & Huynh Viet Khai, 2023. "Solid waste management program in developing countries: contingent valuation methodology versus choice experiment," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(11), pages 12395-12417, November.
    12. Baker, Rick & Ruting, Brad, 2014. "Environmental Policy Analysis: A Guide to Non‑Market Valuation," 2014 Conference (58th), February 4-7, 2014, Port Macquarie, Australia 165810, Australian Agricultural and Resource Economics Society.
    13. Gowdy, John M. & Mayumi, Kozo, 2001. "Reformulating the foundations of consumer choice theory and environmental valuation," Ecological Economics, Elsevier, vol. 39(2), pages 223-237, November.
    14. Angelovski, Andrej & Di Cagno, Daniela & Güth, Werner & Marazzi, Francesca & Panaccione, Luca, 2018. "Behavioral spillovers in local public good provision: An experimental study," Journal of Economic Psychology, Elsevier, vol. 67(C), pages 116-134.
    15. Bernasconi, Michele & Corazzini, Luca & Kube, Sebastian & Maréchal, Michel André, 2009. "Two are better than one!: Individuals' contributions to "unpacked" public goods," Economics Letters, Elsevier, vol. 104(1), pages 31-33, July.
    16. Kuosmanen, Timo & Kortelainen, Mika, 2007. "Valuing environmental factors in cost-benefit analysis using data envelopment analysis," Ecological Economics, Elsevier, vol. 62(1), pages 56-65, April.
    17. Jonathan Aldred, 2006. "Incommensurability and Monetary Valuation," Land Economics, University of Wisconsin Press, vol. 82(2), pages 141-161.
    18. Senakpon, Kokoye, 2017. "Farmers’ Willingness To Pay For Soil Testing Service In Northern Haiti," 2017 Annual Meeting, February 4-7, 2017, Mobile, Alabama 252804, Southern Agricultural Economics Association.
    19. Gómez-Valenzuela, Víctor & Alpízar, Francisco & Bonilla, Solhanlle & Franco-Billini, Carol, 2020. "Mining conflict in the Dominican Republic: The case of Loma Miranda," Resources Policy, Elsevier, vol. 66(C).
    20. Ian J. Bateman & Alistair Munro & Gregory L. Poe, 2008. "Decoy Effects in Choice Experiments and Contingent Valuation: Asymmetric Dominance," Land Economics, University of Wisconsin Press, vol. 84(1), pages 115-127.

    More about this item

    Keywords

    valuing natural resources; decision making; New Zealand;
    All these keywords.

    JEL classification:

    • Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:nzierw:2013_003. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Spring (email available below). General contact details of provider: https://edirc.repec.org/data/nziernz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.