Abstract
Consistent definitions for nonuse benefits have been elusive because the conceptual frameworks used in the literature to describe its primary components - option value and existence values - are not mutually consistent. In the process of demonstrating this result, the paper describes the elements of a consistent framework for treating both use and nonuse benefits and apply it in explaining some of the problems with the available empirical estimates of nonuse benefits. -Author
Original language | English (US) |
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Pages (from-to) | 19-26 |
Number of pages | 8 |
Journal | Southern Economic Journal |
Volume | 54 |
Issue number | 1 |
DOIs | |
State | Published - Jan 1 1987 |
ASJC Scopus subject areas
- Economics and Econometrics