Use and NonUse values
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Natural resources provide humans with values and services which can be classified as use and nonuse values and services. Use values, in general, refer to the current or expected use of a natural resource. Use value has been defined as: " . . . the value to the public of recreational or other public uses of the resource, as measured by changes in consumer surplus, any fees or other payments collected by the [trustee] for a private party's use of the natural resource, and any economic rent accruing to a private party because the [trustee] does not charge a fee or price for the use of the resource." 1 Nonuse values include the value in knowing: that a natural resource will be (although there should be some degree of uncertainty) available in the future (option nonuse); that others are currently able to use the resource (vicarious nonuse); that future generations will be able to use the resource (bequest nonuse); and that the resource simply exists in addition to its other uses (inherent nonuse). The total value of a natural resource includes the sum of its use and nonuse values. This notion, introduced by Weisbrod, was difficult to establish: " . . . [his] main objective was to show that private and social welfare may deviate with respect to the market provision of commodities that are purchased infrequently and with uncertainty . . . [and which commod
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conomic or CVM-type questions is limited and what exists is not widely distributed, and [there] is the absence of testable models to explain how people answer questions."7 In evaluating the use of surveys, one must address the use therein of hypothetical questions: "CVM protagonists often have failed to pay sufficient attention to the fact that they are talking about hypothetical questions . . . It is doubtful, strictly speaking, the use of hypothetical questions can be seen as a scientific method . . . for reliably calculating statutory use values as suggested by the Ohio court." 8 In the oft-quoted Cummings and Harrison (CH) critique, there are serious reservations: "CH argue that the CVM setting is purely hypothetical and, as such, the respondents have little incentive to actually think about the values they reveal for the good being valued by the CVM study."9 The central issue, of course, is not hypothetical markets but contingent markets and what should be debated is whether real economic commitment (for which current literature provides no explicit definition, and should not mean an actual WTP) is a significant factor for the accuracy of CVM results.
Among the disadvantages of surveys (used in CVM), writers have __________
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Some common words found in the essay are:
Journal Winter, Moreover Focus, U Y, , Economics December, Harrison CH's, Harper Collins, Department Interior, GQ GR, DDT PCB, natural resource, nonuse values, natural resources, journal winter, journal winter 1994, winter 1994, resources journal, natural resources journal, resources journal winter, hypothetical questions, ohio decision, resource journal winter, natural resource journal, resource journal, x ,
Approximate Word count = 4013
Approximate Pages = 16 (250 words per page)
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