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A Contingent Valuation Survey and Benefit-Cost Analysis of Forest Preservation in East Gippsland, Australia


Lockwood, M and Loomis, J and DeLacy, T, A Contingent Valuation Survey and Benefit-Cost Analysis of Forest Preservation in East Gippsland, Australia, Journal of Environmental Management, 38, (3) pp. 233-243. ISSN 0301-4797 (1993) [Refereed Article]

DOI: doi:10.1006/jema.1993.1042


A contingent valuation survey was conducted to determine Victorians' willingness to pay (WTP) to reserve unprotected East Gippsland national estate forests in national parks. Such reservation would preclude utilization of these forests for timber production. Attitudinal questions included in the survey revealed that Victorians consider the non-market values associated with these forests to be more important than market values. The median WTP per respondent's household for reserving the forests was $52, which corresponds to an annual aggregate non-market value to the people of Victoria of $41m. Data from a sub-sample of Gippsland residents indicated that people living in or adjacent to East Gippsland placed relatively more emphasis on market values and had a significantly lower WTP for reserving the forests. Using our contingent valuation result together with data from the Resource Assessment Commission, we calculated a positive net present value of $543m. for preserving the forests. © 1993 Academic Press. All rights reserved.

Item Details

Item Type:Refereed Article
Research Division:Economics
Research Group:Applied economics
Research Field:Environment and resource economics
Objective Division:Environmental Management
Objective Group:Other environmental management
Objective Field:Other environmental management not elsewhere classified
UTAS Author:Lockwood, M (Associate Professor Michael Lockwood)
ID Code:33830
Year Published:1993
Web of Science® Times Cited:28
Deposited By:Geography and Environmental Studies
Deposited On:2005-07-21
Last Modified:2005-07-21

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