The Economic Significance of Environmental Resources: A Review of the Evidence
2017
Young, Ralph
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.
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