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The relative unimportance of nonmarket willingness to pay for timber harvesting

Citation

Lockwood, M and Loomis, J and DeLacy, T, The relative unimportance of nonmarket willingness to pay for timber harvesting, Ecological Economics, 9, (2) pp. 145-152. ISSN 0921-8009 (1994) [Refereed Article]

DOI: doi:10.1016/0921-8009(94)90096-5

Abstract

The magnitude of a nonmarket willingness to pay for logging of native forests in southeastern Australia is estimated using the contingent valuation method. This willingness to pay is apparently motivated by both the monetary and social costs of unemployment and a nonmarket intrinsic production value. We speculate that this nonmarket value for production may arise where a traditional land use is involved. Willingness to pay for intrinsic production value is small (4%) in comparison to the nonmarket economic value of reserving the same forests in national parks. Whilst this result may not be transferable to resource allocation issues which involve significant traditional land use, it does suggest that neglect of such a willingness to pay has not significantly prejudiced the results of past benefit cost analyses related to the preservation of natural environments. © 1994.

Item Details

Item Type:Refereed Article
Research Division:Economics
Research Group:Applied Economics
Research Field:Industry Economics and Industrial Organisation
Objective Division:Environment
Objective Group:Environmental and Natural Resource Evaluation
Objective Field:Environmental and Natural Resource Evaluation not elsewhere classified
Author:Lockwood, M (Associate Professor Michael Lockwood)
ID Code:34088
Year Published:1994
Web of Science® Times Cited:23
Deposited By:Geography and Environmental Studies
Deposited On:2005-07-25
Last Modified:2005-07-25
Downloads:0

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