Nonuse values in benefit cost analysis.

V. K. Smith

Research output: Contribution to journalArticle

53 Scopus citations

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 languageEnglish (US)
Pages (from-to)19-26
Number of pages8
JournalSouthern Economic Journal
Volume54
Issue number1
DOIs
StatePublished - Jan 1 1987

ASJC Scopus subject areas

  • Economics and Econometrics

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